Pan American Silver Corp. $PAAS Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Pan American Silver stake by 23.8% in the second quarter, selling 36,146 shares and retaining 115,814 shares valued at approximately $5.19 million. Institutional investors and hedge funds collectively own 55.43% of the company.
• Analyst sentiment remains generally positive, with seven Buy ratings and three Holds. Pan American Silver has a consensus rating of “Moderate Buy” and an average price target of $70.43.
• The company reported quarterly revenue of $1.12 billion, up 38.4% year over year, but missed earnings expectations with EPS of $0.73 versus the $0.84 consensus. It raised its quarterly dividend to $0.184, equivalent to a 1.5% annualized yield.

Engineers Gate Manager LP reduced its holdings in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 23.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,814 shares of the basic materials company's stock after selling 36,146 shares during the quarter. Engineers Gate Manager LP's holdings in Pan American Silver were worth $5,187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Pan American Silver in the 2nd quarter worth $375,948,000. Swiss Life Asset Management Ltd lifted its holdings in shares of Pan American Silver by 46.9% during the fourth quarter. Swiss Life Asset Management Ltd now owns 58,827 shares of the basic materials company's stock valued at $3,051,000 after purchasing an additional 18,791 shares during the last quarter. Royal Palms Capital LLC purchased a new stake in shares of Pan American Silver during the fourth quarter valued at $2,170,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Pan American Silver in the 2nd quarter valued at $2,347,000. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of Pan American Silver in the 2nd quarter valued at $6,277,000. 55.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PAAS shares. Weiss Ratings downgraded Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Wall Street Zen cut shares of Pan American Silver from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. BMO Capital Markets reissued a "market perform" rating on shares of Pan American Silver in a research report on Thursday, August 13th. Zacks Research raised shares of Pan American Silver from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Finally, Scotiabank restated an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Pan American Silver currently has a consensus rating of "Moderate Buy" and an average price target of $70.43.

Pan American Silver Stock Performance

Shares of PAAS stock opened at $50.30 on Friday. The company has a market capitalization of $20.88 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 4.98 and a beta of 0.77. Pan American Silver Corp. has a 1-year low of $33.08 and a 1-year high of $69.99. The company has a current ratio of 2.94, a quick ratio of 2.23 and a debt-to-equity ratio of 0.11. The stock's fifty day simple moving average is $47.80 and its 200-day simple moving average is $52.17.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.11). Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the prior year, the company posted $0.43 earnings per share. The firm's revenue was up 38.4% on a year-over-year basis. On average, sell-side analysts predict that Pan American Silver Corp. will post 3.81 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Monday, August 24th were given a $0.184 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.5%. This is a positive change from Pan American Silver's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, August 24th. Pan American Silver's payout ratio is currently 22.36%.

About Pan American Silver

Pan American Silver Corp. is a mining company focused primarily on the exploration, development and production of silver and gold. Its operations also produce byproduct metals, including zinc, lead and copper, depending on the mine and ore deposit.

Founded in 1994 and headquartered in Vancouver, British Columbia, Pan American Silver operates mines and development projects across the Americas. The company's geographic footprint has included Canada, Mexico, Peru, Bolivia, Argentina, Chile and Brazil, giving it exposure to several of the region's major silver and gold mining jurisdictions.

Pan American expanded its portfolio through the acquisition of Yamana Gold's Latin American assets in 2023.

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