Pan American Silver Corp. $PAAS Position Increased by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its position in Pan American Silver Corp. by 61% during the second quarter, acquiring an additional 16,723 shares, bringing their total holdings to 44,140 shares worth approximately $1.29 million.
• Pan American Silver reported $0.43 EPS for the quarter, surpassing analysts' expectations, and achieved a revenue of $811.90 million, up 18.3% compared to the same quarter last year.
• The company raised its quarterly dividend from $0.10 to $0.12 per share, reflecting a yield of 1.2%, indicating a commitment to returning value to shareholders.

Wealth Enhancement Advisory Services LLC increased its position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 61.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,140 shares of the basic materials company's stock after acquiring an additional 16,723 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Pan American Silver were worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Concurrent Investment Advisors LLC bought a new position in shares of Pan American Silver during the 1st quarter valued at $222,000. D.A. Davidson & CO. bought a new position in Pan American Silver during the first quarter valued at about $358,000. Intech Investment Management LLC raised its holdings in Pan American Silver by 189.0% during the first quarter. Intech Investment Management LLC now owns 107,952 shares of the basic materials company's stock valued at $2,788,000 after buying an additional 70,593 shares in the last quarter. Southland Equity Partners LLC bought a new position in Pan American Silver during the first quarter valued at about $300,000. Finally, Wellington Management Group LLP raised its stake in shares of Pan American Silver by 191.0% in the 4th quarter. Wellington Management Group LLP now owns 167,847 shares of the basic materials company's stock valued at $3,394,000 after acquiring an additional 110,170 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Trading Down 0.1%

PAAS opened at $38.77 on Wednesday. The stock has a market capitalization of $16.36 billion, a P/E ratio of 26.74, a P/E/G ratio of 0.63 and a beta of 0.65. Pan American Silver Corp. has a 12 month low of $19.80 and a 12 month high of $39.60. The firm's fifty day simple moving average is $33.10 and its 200 day simple moving average is $28.75. 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 (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. The company had revenue of $811.90 million for the quarter, compared to analyst estimates of $782.12 million. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The company's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. As a group, research analysts anticipate 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 was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, August 18th. This is a boost from Pan American Silver's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 1.2%. Pan American Silver's dividend payout ratio is currently 33.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. CIBC reiterated an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 15th. National Bankshares reaffirmed an "outperform" rating on shares of Pan American Silver in a research report on Friday, September 5th. National Bank Financial raised shares of Pan American Silver to a "strong-buy" rating in a research report on Thursday, September 4th. Wall Street Zen lowered shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Scotiabank dropped their target price on shares of Pan American Silver from $36.50 to $36.00 and set an "outperform" rating on the stock in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.20.

About Pan American Silver

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.

Want to see what other hedge funds are holding PAAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.