OMERS ADMINISTRATION Corp Invests $4.89 Million in Pan American Silver Corp. $PAAS

Key Points

• OMERS Administration Corp. initiated a $4.89 million position in Pan American Silver during the second quarter by purchasing 109,141 shares. Institutional investors collectively own 55.43% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $70.43.
• Pan American Silver’s quarterly revenue rose 38.4% year over year, though earnings and revenue fell short of estimates. The company increased its quarterly dividend to $0.184 per share, implying a 1.4% annual yield.

OMERS ADMINISTRATION Corp bought a new position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 109,141 shares of the basic materials company's stock, valued at approximately $4,891,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Pan American Silver by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company's stock worth $905,513,000 after purchasing an additional 274,168 shares in the last quarter. Invesco Ltd. grew its position in shares of Pan American Silver by 9.8% during the third quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company's stock valued at $383,365,000 after purchasing an additional 882,135 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Pan American Silver during the second quarter valued at about $375,948,000. FIL Ltd increased its holdings in shares of Pan American Silver by 154.7% in the fourth quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company's stock worth $378,872,000 after purchasing an additional 4,438,478 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Pan American Silver in the fourth quarter worth about $303,611,000. Institutional investors own 55.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PAAS shares. Jefferies Financial Group dropped their price target on Pan American Silver from $54.00 to $53.00 and set a "hold" rating for the company in a research note on Monday, July 6th. Wall Street Zen downgraded Pan American Silver from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. TD Cowen raised Pan American Silver from a "hold" rating to a "buy" rating and upped their price objective for the stock from $67.00 to $72.00 in a report on Tuesday, May 12th. Bank of America lowered their target price on Pan American Silver from $77.00 to $69.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Finally, Scotiabank reissued an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Pan American Silver has a consensus rating of "Moderate Buy" and a consensus target price of $70.43.

Pan American Silver Price Performance

Shares of Pan American Silver stock opened at $53.58 on Tuesday. The stock has a market cap of $22.35 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 4.90 and a beta of 0.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.23 and a current ratio of 2.94. The stock has a 50 day moving average price of $46.37 and a 200-day moving average price of $52.72. Pan American Silver Corp. has a one year low of $32.32 and a one year high of $69.99.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.11). The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.16 billion. Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The business's quarterly revenue was up 38.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 EPS. Equities analysts expect that Pan American Silver Corp. will post 4.06 EPS for the current year.

Pan American Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be given a dividend of $0.184 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Pan American Silver's previous quarterly dividend of $0.18. The ex-dividend date is Monday, August 24th. Pan American Silver's dividend payout ratio (DPR) is presently 21.75%.

Pan American Silver Company Profile

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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