Pan American Silver Corp. $PAAS Shares Sold by Amundi

Key Points

• Amundi cut its Pan American Silver stake by 7.3% in the first quarter, selling 208,240 shares and retaining 2.63 million shares valued at approximately $143.5 million. Institutional investors collectively own 55.43% of the company.
• PAAS shares opened at $43.08, down 2.2%, with the stock trading below its 50-day and 200-day moving averages. The company has a $17.97 billion market capitalization and a 52-week range of $26.76 to $69.99.
• Pan American Silver exceeded quarterly expectations with $1.09 in EPS and $1.33 billion in revenue, while revenue increased 49.3% year over year. Analysts maintain a “Moderate Buy” consensus with a $70.43 target price, and the company pays a quarterly dividend of $0.18 per share.

Amundi reduced its stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,626,007 shares of the basic materials company's stock after selling 208,240 shares during the quarter. Amundi owned 0.62% of Pan American Silver worth $143,459,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PAAS. Parallel Advisors LLC boosted its stake in shares of Pan American Silver by 151.8% during the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company's stock worth $25,000 after purchasing an additional 387 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Pan American Silver by 1,336.1% in the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company's stock valued at $28,000 after acquiring an additional 481 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Pan American Silver during the 4th quarter worth about $34,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Pan American Silver in the fourth quarter worth $41,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Pan American Silver by 173.3% during the fourth quarter. Golden State Wealth Management LLC now owns 820 shares of the basic materials company's stock worth $42,000 after purchasing an additional 520 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company's stock.

Pan American Silver Stock Down 2.2%

PAAS opened at $43.08 on Friday. Pan American Silver Corp. has a twelve month low of $26.76 and a twelve month high of $69.99. The business has a 50 day moving average price of $46.98 and a 200 day moving average price of $53.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84. The firm has a market cap of $17.97 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 3.78 and a beta of 0.72.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm posted $0.42 EPS. The business's quarterly revenue was up 49.3% on a year-over-year basis. Research analysts forecast that Pan American Silver Corp. will post 4.15 EPS for the current year.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.72 dividend on an annualized basis and a yield of 1.7%. Pan American Silver's payout ratio is currently 23.15%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PAAS shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $75.00 price target on shares of Pan American Silver in a report on Tuesday, April 28th. Scotiabank reaffirmed an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 14th. Zacks Research downgraded Pan American Silver from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. TD Cowen upgraded Pan American Silver from a "hold" rating to a "buy" rating and raised their target price for the company from $67.00 to $72.00 in a research report on Tuesday, May 12th. Finally, Jefferies Financial Group lowered their price objective on shares of Pan American Silver from $54.00 to $53.00 and set a "hold" rating on the stock in a research note on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $70.43.

About Pan American Silver

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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