Legend Financial Advisors Inc. Makes New Investment in Pan American Silver Corp. $PAAS

Key Points

• Legend Financial Advisors Inc. has acquired 31,091 shares of Pan American Silver Corp., valued at approximately $883,000, making it the firm's 24th largest holding.
• Pan American Silver recently increased its quarterly dividend from $0.10 to $0.12, resulting in an annual yield of 1.3%.
• Analysts have downgraded Pan American Silver, with Zacks Research moving its rating from "strong-buy" to "hold," amidst other rating adjustments from different research firms.

Legend Financial Advisors Inc. bought a new position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 31,091 shares of the basic materials company's stock, valued at approximately $883,000. Pan American Silver comprises 0.6% of Legend Financial Advisors Inc.'s holdings, making the stock its 24th largest holding.

A number of other large investors also recently bought and sold shares of PAAS. Graybill Wealth Management LTD. bought a new position in Pan American Silver during the 1st quarter worth approximately $33,000. Farther Finance Advisors LLC lifted its holdings in Pan American Silver by 39.8% during the 1st quarter. Farther Finance Advisors LLC now owns 2,720 shares of the basic materials company's stock worth $70,000 after buying an additional 775 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Pan American Silver by 507.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the basic materials company's stock worth $116,000 after buying an additional 3,759 shares during the last quarter. Banque Transatlantique SA bought a new position in Pan American Silver during the 1st quarter worth approximately $139,000. Finally, Rossby Financial LCC bought a new position in Pan American Silver during the 1st quarter worth approximately $151,000. Institutional investors own 55.43% of the company's stock.

Analyst Upgrades and Downgrades

PAAS has been the topic of a number of research reports. Zacks Research cut Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Scotiabank dropped their price target on Pan American Silver from $36.50 to $36.00 and set an "outperform" rating on the stock in a research report on Friday, September 5th. CIBC reiterated an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of Pan American Silver in a research report on Friday, September 5th. Finally, Wall Street Zen cut Pan American Silver from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.20.

Pan American Silver Stock Up 1.1%

PAAS opened at $36.80 on Friday. Pan American Silver Corp. has a 12 month low of $19.80 and a 12 month high of $38.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.05 and a quick ratio of 2.11. The stock has a market cap of $15.53 billion, a P/E ratio of 25.38, a P/E/G ratio of 0.58 and a beta of 0.65. The stock's 50 day moving average price is $32.54 and its 200 day moving average price is $28.45.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The firm had revenue of $811.90 million for the quarter, compared to analysts' expectations of $782.12 million. During the same period last year, the firm earned $0.11 EPS. The firm's revenue was up 18.3% compared to the same quarter last year. As a group, research analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.12 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.48 annualized dividend and a yield of 1.3%. This is an increase from Pan American Silver's previous quarterly dividend of $0.10. Pan American Silver's payout ratio is 33.10%.

About Pan American Silver

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.

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