Lord Abbett & CO. LLC Buys New Holdings in Pan American Silver Corp. $PAAS

Key Points

• Lord Abbett & CO. LLC purchased 450,000 shares of Pan American Silver Corp. for approximately $11.6 million, increasing its stake to 0.12% of the company.
• The company recently declared a quarterly dividend of $0.12 per share, which represents an increase from the previous dividend of $0.10.
• Analysts have mixed opinions on the stock, with four analysts rating it a "buy" and others maintaining a "hold" rating, impacting the average rating to "Moderate Buy."

Lord Abbett & CO. LLC acquired a new stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 450,000 shares of the basic materials company's stock, valued at approximately $11,624,000. Lord Abbett & CO. LLC owned approximately 0.12% of Pan American Silver at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Pan American Silver by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 14,146,213 shares of the basic materials company's stock worth $365,397,000 after purchasing an additional 138,028 shares during the last quarter. Invesco Ltd. grew its position in shares of Pan American Silver by 2.1% during the 1st quarter. Invesco Ltd. now owns 6,029,828 shares of the basic materials company's stock worth $155,750,000 after buying an additional 121,764 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Pan American Silver by 319.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,451,864 shares of the basic materials company's stock worth $115,009,000 after acquiring an additional 3,389,549 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Pan American Silver by 18.3% in the fourth quarter. Ameriprise Financial Inc. now owns 3,146,182 shares of the basic materials company's stock worth $63,658,000 after purchasing an additional 486,622 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Pan American Silver by 71.7% in the first quarter. TD Asset Management Inc now owns 1,971,544 shares of the basic materials company's stock valued at $50,917,000 after acquiring an additional 823,390 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Trading Up 1.4%

NYSE:PAAS traded up $0.4260 during midday trading on Thursday, hitting $31.6960. 1,889,756 shares of the company traded hands, compared to its average volume of 4,537,592. The firm's fifty day moving average is $29.38 and its 200-day moving average is $26.55. The firm has a market capitalization of $11.47 billion, a P/E ratio of 21.91, a P/E/G ratio of 0.41 and a beta of 0.60. The company has a current ratio of 3.05, a quick ratio of 2.11 and a debt-to-equity ratio of 0.15. Pan American Silver Corp. has a 12-month low of $18.50 and a 12-month high of $32.50.

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

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 18th. This is a positive change from Pan American Silver's previous quarterly dividend of $0.10. Pan American Silver's dividend payout ratio is currently 33.10%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PAAS. Wall Street Zen downgraded shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. TD Securities dropped their price objective on Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a research note on Thursday, May 22nd. CIBC restated an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 15th. Finally, Zacks Research lowered Pan American Silver from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $31.40.

Pan American Silver Company Profile

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.