Pan American Silver Corp. $PAAS Shares Sold by NFJ Investment Group LLC

Key Points

• NFJ Investment Group LLC has reduced its stake in Pan American Silver Corp. by 12.3%, selling 64,721 shares, and now owns 459,990 shares valued at approximately $11.88 million.
• Pan American Silver recently reported a quarterly revenue of $811.90 million, exceeding analysts' estimates and reflecting an 18.3% year-over-year increase in revenue.
• The company declared a new quarterly dividend of $0.12 per share, which is a boost from the previous dividend of $0.10, resulting in an annualized yield of 1.4%.

NFJ Investment Group LLC cut its stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 12.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 459,990 shares of the basic materials company's stock after selling 64,721 shares during the period. NFJ Investment Group LLC owned about 0.13% of Pan American Silver worth $11,882,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PAAS. Connor Clark & Lunn Investment Management Ltd. raised its position in Pan American Silver by 319.1% during the first 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Pan American Silver by 11.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,029,241 shares of the basic materials company's stock worth $233,225,000 after acquiring an additional 959,859 shares during the period. Driehaus Capital Management LLC raised its position in Pan American Silver by 77.2% during the first quarter. Driehaus Capital Management LLC now owns 2,151,187 shares of the basic materials company's stock worth $55,565,000 after acquiring an additional 937,126 shares during the period. TD Asset Management Inc raised its position in Pan American Silver by 71.7% during the first quarter. TD Asset Management Inc now owns 1,971,544 shares of the basic materials company's stock worth $50,917,000 after acquiring an additional 823,390 shares during the period. Finally, Man Group plc raised its position in Pan American Silver by 381.7% during the fourth quarter. Man Group plc now owns 947,560 shares of the basic materials company's stock worth $19,160,000 after acquiring an additional 750,858 shares during the period. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PAAS. TD Securities reduced their price objective on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a research report on Thursday, May 22nd. Wall Street Zen cut shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Zacks Research cut shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. National Bank Financial upgraded shares of Pan American Silver to a "strong-buy" rating in a research report on Thursday. Finally, CIBC reiterated an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.20.

Pan American Silver Price Performance

Shares of NYSE PAAS traded up $1.02 during mid-day trading on Friday, reaching $34.60. The company's stock had a trading volume of 6,504,832 shares, compared to its average volume of 4,408,362. The stock has a 50-day moving average of $30.48 and a two-hundred day moving average of $27.31. The stock has a market capitalization of $12.52 billion, a P/E ratio of 23.86, a P/E/G ratio of 0.43 and a beta of 0.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.11 and a current ratio of 3.05. Pan American Silver Corp. has a 1-year low of $18.50 and a 1-year high of $35.00.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its earnings results on Wednesday, August 6th. The basic materials company reported $0.43 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $811.90 million during the quarter, compared to analysts' expectations of $782.12 million. During the same period in the prior year, the business earned $0.11 earnings per share. The company's quarterly revenue was up 18.3% compared to the same quarter last year. On average, equities research analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Monday, August 18th. This is an increase from Pan American Silver's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 1.4%. Pan American Silver's dividend payout ratio (DPR) 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.