Pan American Silver Corp. $PAAS Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies trimmed its Pan American Silver stake by 2.8% in Q3, selling 43,357 shares and now holding 1,532,398 shares (~0.36% of the company) valued at about $59.36 million.
• Strong quarterly results: PAAS beat estimates with Q EPS $1.11 vs. $0.90 and revenue $1.18B vs. $1.11B (revenue up 44.7% YoY); analysts rate the stock a "Moderate Buy" on average with a $56.60 target.
• Dividend increase: the company raised its quarterly dividend to $0.18 (annualized $0.72) for a ~1.2% yield, with ex-dividend on March 2 and payment on March 13.

American Century Companies Inc. decreased its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,532,398 shares of the basic materials company's stock after selling 43,357 shares during the period. American Century Companies Inc. owned approximately 0.36% of Pan American Silver worth $59,364,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Rothschild Investment LLC acquired a new position in shares of Pan American Silver during the third quarter worth approximately $36,000. City State Bank raised its stake in Pan American Silver by 74.4% during the 3rd quarter. City State Bank now owns 1,020 shares of the basic materials company's stock valued at $40,000 after acquiring an additional 435 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Pan American Silver by 93.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company's stock worth $40,000 after acquiring an additional 497 shares during the period. Assetmark Inc. grew its stake in shares of Pan American Silver by 3,111.4% in the third quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company's stock worth $44,000 after purchasing an additional 1,089 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Pan American Silver by 53.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company's stock worth $48,000 after purchasing an additional 594 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company's stock.

Analyst Upgrades and Downgrades

PAAS has been the topic of a number of recent analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Pan American Silver in a research note on Monday, December 29th. Canadian Imperial Bank of Commerce set a $88.00 price target on shares of Pan American Silver and gave the stock an "outperform" rating in a research report on Wednesday, February 4th. Scotiabank increased their price objective on shares of Pan American Silver from $47.00 to $64.00 and gave the company an "outperform" rating in a report on Monday, January 26th. Jefferies Financial Group lowered their price objective on shares of Pan American Silver from $58.00 to $54.00 and set a "hold" rating on the stock in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised Pan American Silver from a "buy" rating to a "strong-buy" rating in a report on Sunday, February 22nd. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Pan American Silver presently has an average rating of "Moderate Buy" and an average target price of $56.60.

Pan American Silver Stock Up 0.2%

NYSE PAAS opened at $61.73 on Thursday. Pan American Silver Corp. has a 12 month low of $20.55 and a 12 month high of $69.99. The company has a market capitalization of $26.04 billion, a P/E ratio of 24.69, a PEG ratio of 0.57 and a beta of 0.62. The company's 50 day simple moving average is $58.24 and its 200 day simple moving average is $45.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.69 and a quick ratio of 1.97.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its earnings results on Wednesday, February 18th. The basic materials company reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.21. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.11 billion. Pan American Silver had a net margin of 27.07% and a return on equity of 16.38%. The firm's revenue for the quarter was up 44.7% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Equities research analysts expect that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, March 2nd. This is a positive change from Pan American Silver's previous quarterly dividend of $0.14. Pan American Silver's payout ratio is presently 28.80%.

Pan American Silver Company Profile

Pan American Silver Corp. NYSE: PAAS is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.

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