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

Several other hedge funds have also bought and sold shares of the stock. Signaturefd LLC grew its holdings in Pan American Silver by 8.1% during the first quarter. Signaturefd LLC now owns 8,567 shares of the basic materials company's stock valued at $221,000 after purchasing an additional 643 shares during the period. Farther Finance Advisors LLC grew its holdings in Pan American Silver by 39.8% during the first quarter. Farther Finance Advisors LLC now owns 2,720 shares of the basic materials company's stock valued at $70,000 after purchasing an additional 775 shares during the period. US Bancorp DE grew its holdings in Pan American Silver by 13.4% during the first quarter. US Bancorp DE now owns 6,959 shares of the basic materials company's stock valued at $180,000 after purchasing an additional 820 shares during the period. Blair William & Co. IL grew its holdings in Pan American Silver by 4.3% during the first quarter. Blair William & Co. IL now owns 21,718 shares of the basic materials company's stock valued at $561,000 after purchasing an additional 900 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Pan American Silver by 3.2% during the first quarter. Envestnet Asset Management Inc. now owns 33,916 shares of the basic materials company's stock valued at $876,000 after purchasing an additional 1,054 shares during the period. Institutional investors own 55.43% of the company's stock.

Pan American Silver Stock Performance

NYSE:PAAS opened at $32.64 on Friday. The company has a current ratio of 3.05, a quick ratio of 2.11 and a debt-to-equity ratio of 0.15. Pan American Silver Corp. has a 12-month low of $18.50 and a 12-month high of $32.82. The stock has a 50-day moving average price of $29.51 and a 200 day moving average price of $26.68. The stock has a market capitalization of $11.81 billion, a P/E ratio of 22.51, 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 released its earnings results on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The firm had revenue of $811.90 million during the quarter, compared to analysts' expectations of $782.12 million. During the same quarter last year, the business posted $0.11 earnings per share. The firm's revenue was up 18.3% on a year-over-year basis. Equities research analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a dividend of $0.12 per share. This is an increase from Pan American Silver's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, August 18th. Pan American Silver's dividend payout ratio (DPR) is 33.10%.

Analyst Ratings Changes

Several research firms have issued reports on PAAS. CIBC reissued an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 15th. Wall Street Zen lowered Pan American Silver from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. TD Securities cut their price target on Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, May 22nd. Finally, Zacks Research lowered Pan American Silver from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $31.40.

Pan American Silver 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.

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