Pan American Silver Corp. $PAAS Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its stake in Pan American Silver by 26.4% in the first quarter, selling 1.21 million shares and leaving it with 3.37 million shares worth about $184.2 million.
• Institutional ownership remains significant, with 55.43% of shares held by hedge funds and other institutions. Several other firms, including Goldman Sachs and AQR, increased their positions during the period.
• Analyst sentiment is mixed but still leans positive: the stock has a Moderate Buy consensus with an average price target of $70.43, while recent ratings included one downgrade from Zacks and a slight price-target cut from Jefferies.

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 26.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,371,454 shares of the basic materials company's stock after selling 1,209,645 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.80% of Pan American Silver worth $184,199,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. AQR Capital Management LLC grew its position in Pan American Silver by 48.6% during the 1st quarter. AQR Capital Management LLC now owns 19,529 shares of the basic materials company's stock worth $504,000 after purchasing an additional 6,391 shares during the period. Jones Financial Companies Lllp grew its holdings in Pan American Silver by 574.9% during the first quarter. Jones Financial Companies Lllp now owns 19,518 shares of the basic materials company's stock worth $504,000 after acquiring an additional 16,626 shares during the period. Goldman Sachs Group Inc. grew its holdings in Pan American Silver by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,499,343 shares of the basic materials company's stock worth $38,728,000 after acquiring an additional 360,283 shares during the period. Empowered Funds LLC purchased a new position in Pan American Silver during the first quarter valued at approximately $1,272,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Pan American Silver by 53.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 594 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PAAS shares. Jefferies Financial Group cut their target price on shares of Pan American Silver from $54.00 to $53.00 and set a "hold" rating for the company in a report on Monday, July 6th. Scotiabank reissued an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $75.00 price objective on shares of Pan American Silver in a report on Tuesday, April 28th. Finally, Zacks Research downgraded shares of Pan American Silver from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Pan American Silver presently has a consensus rating of "Moderate Buy" and an average price target of $70.43.

Pan American Silver Stock Performance

NYSE PAAS opened at $44.03 on Friday. The company has a market cap of $18.36 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 3.91 and a beta of 0.72. The stock's 50 day simple moving average is $48.07 and its 200-day simple moving average is $54.17. Pan American Silver Corp. has a 1-year low of $26.76 and a 1-year high of $69.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.84 and a quick ratio of 2.11.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its quarterly 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 return on equity of 19.50% and a net margin of 31.66%.The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The firm's revenue for the quarter was up 49.3% on a year-over-year basis. As a group, equities research analysts anticipate that Pan American Silver Corp. will post 4.02 EPS for the current fiscal year.

Pan American Silver Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were given 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 1.6%. Pan American Silver's payout ratio is presently 23.15%.

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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