Ameriprise Financial Inc. Boosts Position in Pan American Silver Corp. $PAAS

Key Points

• Ameriprise Financial Inc. increased its stake in Pan American Silver Corp. by 21.2%, owning approximately 1.05% of the company, equating to about $98.5 million.
• The company reported $0.43 earnings per share for the last quarter, exceeding estimates and showcasing an 18.3% year-over-year revenue increase to $811.9 million.
• Pan American Silver declared a quarterly dividend increase from $0.10 to $0.12, with an annual yield of 1.5% scheduled for payout on August 29th.

Ameriprise Financial Inc. lifted its position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 21.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,811,684 shares of the basic materials company's stock after purchasing an additional 665,502 shares during the quarter. Ameriprise Financial Inc. owned 1.05% of Pan American Silver worth $98,510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PAAS. Graybill Wealth Management LTD. acquired a new position in shares of Pan American Silver in the 1st quarter valued at $33,000. Farther Finance Advisors LLC boosted its stake in shares of Pan American Silver by 39.8% during 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 in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Pan American Silver by 507.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the basic materials company's stock valued at $116,000 after acquiring an additional 3,759 shares during the period. Rossby Financial LCC purchased a new position in shares of Pan American Silver in the 1st quarter valued at about $151,000. Finally, Summit Securities Group LLC purchased a new position in shares of Pan American Silver in the 1st quarter valued at about $161,000. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Price Performance

PAAS traded down $0.08 on Thursday, hitting $32.92. 3,653,502 shares of the company's stock were exchanged, compared to its average volume of 4,614,015. Pan American Silver Corp. has a fifty-two week low of $18.50 and a fifty-two week high of $33.21. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 0.44 and a beta of 0.60. The firm has a 50-day moving average price of $29.82 and a 200-day moving average price of $26.89. 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 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 business had revenue of $811.90 million during the quarter, compared to analysts' expectations of $782.12 million. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The company's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. As a group, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a $0.12 dividend. This is a positive change from Pan American Silver's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a yield of 1.5%. Pan American Silver's dividend payout ratio is 33.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PAAS shares. CIBC reiterated an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 15th. Wall Street Zen lowered Pan American Silver from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. TD Securities dropped 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 research note on Thursday, May 22nd. Finally, Zacks Research cut shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.