Nuveen LLC Purchases Shares of 390,012 Pan American Silver Corp. $PAAS

Key Points

• Nuveen LLC has invested approximately $10.07 million in Pan American Silver Corp., acquiring 390,012 shares during the first quarter, increasing its ownership stake to about 0.11%.
• Analyst ratings for Pan American Silver recently saw a downgrade from a "strong-buy" to a "hold," with a revised target price of $26.00 from TD Securities.
• Pan American Silver has announced an increase in its quarterly dividend from $0.10 to $0.12, with a dividend payout ratio of 33.10% and a yield of 1.5%.

Nuveen LLC bought a new position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 390,012 shares of the basic materials company's stock, valued at approximately $10,072,000. Nuveen LLC owned about 0.11% of Pan American Silver as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PAAS. Graybill Wealth Management LTD. bought a new position in Pan American Silver in the 1st quarter worth about $33,000. Farther Finance Advisors LLC increased its stake in Pan American Silver by 39.8% in the 1st quarter. Farther Finance Advisors LLC now owns 2,720 shares of the basic materials company's stock worth $70,000 after acquiring an additional 775 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Pan American Silver by 507.3% in 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 acquiring an additional 3,759 shares during the last quarter. Rossby Financial LCC bought a new position in Pan American Silver in the 1st quarter worth about $151,000. Finally, US Bancorp DE increased its stake in Pan American Silver by 13.4% in the 1st quarter. US Bancorp DE now owns 6,959 shares of the basic materials company's stock worth $180,000 after acquiring an additional 820 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Pan American Silver from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Zacks Research lowered Pan American Silver from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. CIBC reiterated an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 15th. Finally, TD Securities reduced their price objective on Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $31.40.

Pan American Silver Price Performance

Shares of Pan American Silver stock traded down $0.13 during trading on Monday, hitting $32.51. 3,032,842 shares of the stock traded hands, compared to its average volume of 4,682,823. 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 market cap of $11.76 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 0.44 and a beta of 0.60. The firm's fifty day moving average is $29.58 and its 200-day moving average is $26.75. Pan American Silver Corp. has a 52 week low of $18.50 and a 52 week high of $32.82.

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 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $811.90 million during the quarter, compared to analysts' expectations of $782.12 million. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.Pan American Silver's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. Research analysts expect that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

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