Maverick Capital Ltd. Makes New Investment in Pan American Silver Corp. $PAAS

Key Points

• Maverick Capital Ltd. has acquired over 27,000 shares of Pan American Silver Corp. valued at approximately $700,000 during the first quarter.
• Pan American Silver recently increased its quarterly dividend to $0.12 per share, up from $0.10, reflecting a 1.4% yield.
• Several research analysts adjusted their ratings for Pan American Silver, with a consensus rating of "Hold" and a price target of $31.40.

Maverick Capital Ltd. bought a new position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,084 shares of the basic materials company's stock, valued at approximately $700,000.

Several other large investors have also bought and sold shares of PAAS. Barclays PLC raised its holdings in Pan American Silver by 3.8% during the 4th quarter. Barclays PLC now owns 63,791 shares of the basic materials company's stock worth $1,290,000 after buying an additional 2,352 shares during the period. First Trust Advisors LP grew its holdings in shares of Pan American Silver by 226.1% during the 4th quarter. First Trust Advisors LP now owns 56,407 shares of the basic materials company's stock valued at $1,141,000 after acquiring an additional 39,111 shares in the last quarter. Northern Trust Corp increased its stake in shares of Pan American Silver by 210.1% in the fourth quarter. Northern Trust Corp now owns 83,871 shares of the basic materials company's stock worth $1,696,000 after acquiring an additional 56,826 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Pan American Silver during the fourth quarter worth $222,000. Finally, Ameriprise Financial Inc. grew its stake in 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 valued at $63,658,000 after purchasing an additional 486,622 shares in the last quarter. Institutional investors own 55.43% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Scotiabank reduced their target price on shares of Pan American Silver from $36.50 to $36.00 and set an "outperform" rating for the company in a research note on Friday. Zacks Research cut Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Wall Street Zen lowered Pan American Silver from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. CIBC reaffirmed an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 15th. Finally, TD Securities decreased their price objective on shares of 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. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $32.20.

Pan American Silver Stock Up 3.0%

Shares of NYSE:PAAS traded up $1.02 during midday trading on Friday, reaching $34.60. 6,504,832 shares of the company were exchanged, compared to its average volume of 4,599,144. Pan American Silver Corp. has a fifty-two week low of $18.50 and a fifty-two week high of $35.00. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $30.34 and a two-hundred day simple moving average of $27.21. The firm has a market cap of $12.52 billion, a PE ratio of 23.86, a P/E/G ratio of 0.43 and a beta of 0.65.

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

Pan American Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.4%. This is a boost from Pan American Silver's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, August 18th. Pan American Silver's payout ratio is currently 33.10%.

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.