Federation des caisses Desjardins du Quebec Grows Stake in Pan American Silver Corp. $PAAS

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Pan American Silver Corp. by 13.5% during the 1st quarter, holding approximately 2.31 million shares worth $59.67 million.
• Pan American Silver reported a quarterly EPS of $0.43, exceeding analysts' expectations, and revenue increased by 18.3% year-over-year to $811.9 million.
• The company announced a dividend increase from $0.10 to $0.12 per share, resulting in an annualized yield of 1.4%.

Federation des caisses Desjardins du Quebec raised its holdings in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 13.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,313,131 shares of the basic materials company's stock after purchasing an additional 274,712 shares during the period. Federation des caisses Desjardins du Quebec owned 0.64% of Pan American Silver worth $59,667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Concurrent Investment Advisors LLC bought a new position in Pan American Silver during the 1st quarter valued at approximately $222,000. D.A. Davidson & CO. bought a new position in Pan American Silver during the 1st quarter valued at approximately $358,000. Southland Equity Partners LLC bought a new position in Pan American Silver during the 1st quarter valued at approximately $300,000. Northern Trust Corp raised its position in Pan American Silver by 210.1% during the 4th quarter. Northern Trust Corp now owns 83,871 shares of the basic materials company's stock valued at $1,696,000 after purchasing an additional 56,826 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Pan American Silver by 191.0% during 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 purchasing an additional 110,170 shares during the last quarter. Institutional investors own 55.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PAAS. Scotiabank decreased their target price on Pan American Silver from $36.50 to $36.00 and set an "outperform" rating for the company in a research report on Friday. Zacks Research lowered Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Wall Street Zen lowered Pan American Silver from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. CIBC reissued an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 15th. Finally, TD Securities decreased their target price on Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.20.

Pan American Silver Stock Up 3.0%

PAAS traded up $1.02 during trading on Friday, hitting $34.60. 6,504,832 shares of the company's stock traded hands, compared to its average volume of 4,599,144. The company's 50 day simple moving average is $30.34 and its two-hundred day simple moving average is $27.21. 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 $35.00. The stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 0.43 and a beta of 0.65.

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 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 business had revenue of $811.90 million for the quarter, compared to the consensus estimate of $782.12 million. During the same period last year, the business posted $0.11 EPS. The company's revenue was up 18.3% compared to the same quarter last year. Analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

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

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.