Pale Fire Capital SE Invests $16.78 Million in Pan American Silver Corp. $PAAS

Key Points

• Pale Fire Capital SE has acquired a new stake in Pan American Silver Corp., purchasing 649,493 shares valued at approximately $16.78 million, making it the fund's 9th largest holding.
• In its recent earnings report, Pan American Silver posted earnings per share of $0.43, exceeding analysts’ expectations, with revenues of $811.90 million, an 18.3% year-over-year increase.
• The company has announced an increase in its quarterly dividend from $0.10 to $0.12 per share, with an ex-dividend date set for August 18th, reflecting a dividend yield of 1.5%.

Pale Fire Capital SE bought a new stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 649,493 shares of the basic materials company's stock, valued at approximately $16,776,000. Pan American Silver accounts for approximately 2.0% of Pale Fire Capital SE's portfolio, making the stock its 9th largest holding. Pale Fire Capital SE owned 0.18% of Pan American Silver at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Graybill Wealth Management LTD. bought a new stake in Pan American Silver during the 1st quarter valued at $33,000. Farther Finance Advisors LLC boosted its holdings in shares of 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 buying an additional 775 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of 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 buying an additional 3,759 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of Pan American Silver in the 1st quarter worth about $151,000. Finally, Summit Securities Group LLC purchased a new position in shares of Pan American Silver in the 1st quarter worth about $161,000. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Price Performance

NYSE PAAS traded up $0.88 on Friday, reaching $33.81. 1,908,278 shares of the company's stock traded hands, compared to its average volume of 4,505,455. Pan American Silver Corp. has a 12 month low of $18.50 and a 12 month high of $33.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.05 and a quick ratio of 2.11. The stock has a 50-day simple moving average of $29.82 and a 200 day simple moving average of $26.89. The stock has a market cap of $12.23 billion, a PE ratio of 23.27, a P/E/G ratio of 0.44 and a beta of 0.60.

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 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 for the quarter, compared to analysts' expectations of $782.12 million. During the same period last year, the business earned $0.11 earnings per share. The business's quarterly revenue was up 18.3% on a year-over-year basis. As a group, research analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, August 18th. This is an increase from Pan American Silver's previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 1.4%. Pan American Silver's dividend payout ratio (DPR) is 33.10%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Securities cut their price target on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a report on Thursday, May 22nd. Wall Street Zen downgraded shares of 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, Zacks Research downgraded shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $31.40.

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.