Ninety One UK Ltd Purchases 65,592 Shares of Pan American Silver Corp. $PAAS

Key Points

• Ninety One UK Ltd increased its stake in Pan American Silver by 3.1%, buying 65,592 shares to own 2,155,252 shares (about 0.51% of the company) valued at roughly $83.47 million at quarter end.
• Quarterly results showed a small EPS miss (earnings $0.48 vs. $0.49 consensus) and revenue of $854.6M versus $867.8M expected, but revenue was up 19.3% year-over-year and the company reported a 19.52% net margin.
• Dividend increase: Pan American raised its quarterly payout to $0.14 (annualized $0.56) from $0.12, implying a ~1.1% yield; analysts hold a consensus "Moderate Buy" rating with a $44.33 price target.

Ninety One UK Ltd grew its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 3.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,155,252 shares of the basic materials company's stock after buying an additional 65,592 shares during the period. Ninety One UK Ltd owned approximately 0.51% of Pan American Silver worth $83,473,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. bought a new position in Pan American Silver during the third quarter worth about $112,000. Miracle Mile Advisors LLC acquired a new stake in shares of Pan American Silver during the third quarter worth about $243,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Pan American Silver by 45.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 747,727 shares of the basic materials company's stock valued at $28,962,000 after purchasing an additional 233,587 shares in the last quarter. Carnegie Lake Advisors LLC acquired a new position in shares of Pan American Silver in the 3rd quarter valued at approximately $223,000. Finally, City State Bank increased its stake in Pan American Silver by 74.4% during the 3rd quarter. City State Bank now owns 1,020 shares of the basic materials company's stock worth $40,000 after purchasing an additional 435 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Stock Down 1.7%

Shares of PAAS stock opened at $51.81 on Thursday. The firm's fifty day moving average price is $42.97 and its two-hundred day moving average price is $36.45. The company has a current ratio of 2.31, a quick ratio of 1.55 and a debt-to-equity ratio of 0.12. Pan American Silver Corp. has a 1 year low of $19.85 and a 1 year high of $55.85. The firm has a market capitalization of $21.87 billion, a P/E ratio of 29.95, a PEG ratio of 0.50 and a beta of 0.72.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). The company had revenue of $854.60 million during the quarter, compared to analyst estimates of $867.76 million. Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%. Pan American Silver's revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. On average, equities analysts predict that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 24th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, November 24th. This is a boost from Pan American Silver's previous quarterly dividend of $0.12. Pan American Silver's payout ratio is currently 32.37%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pan American Silver in a research note on Monday. Scotiabank boosted their price objective on shares of Pan American Silver from $36.00 to $47.00 and gave the company an "outperform" rating in a research report on Thursday, October 23rd. Jefferies Financial Group reissued a "hold" rating and issued a $50.00 price target on shares of Pan American Silver in a research note on Sunday, December 7th. CIBC boosted their price target on Pan American Silver from $50.00 to $62.00 and gave the company an "outperformer" rating in a report on Friday, October 10th. Finally, Wall Street Zen downgraded Pan American Silver from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.33.

About Pan American Silver

Pan American Silver Corp. NYSE: PAAS is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.

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