Pan American Silver Corp. $PAAS Shares Sold by Goehring & Rozencwajg Associates LLC

Key Points

• Goehring & Rozencwajg Associates LLC cut its Pan American Silver stake by 29.4% in the fourth quarter, selling 73,000 shares and leaving it with 175,080 shares valued at about $9.1 million.
• Pan American Silver reported Q1 earnings of $1.09 per share, topping estimates, while revenue rose 49.3% year over year to $1.15 billion despite missing the revenue forecast.
• The company pays a quarterly dividend of $0.18 per share, and analysts remain broadly constructive with an average Moderate Buy rating and a consensus target price of $68.00.

Goehring & Rozencwajg Associates LLC reduced its stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 29.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,080 shares of the basic materials company's stock after selling 73,000 shares during the period. Goehring & Rozencwajg Associates LLC's holdings in Pan American Silver were worth $9,071,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in Pan American Silver during the 4th quarter worth $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Pan American Silver during the 4th quarter worth $58,000. United Capital Management of KS Inc. acquired a new position in Pan American Silver during the 4th quarter worth $2,105,000. Northwest & Ethical Investments L.P. grew its holdings in Pan American Silver by 45.3% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 71,536 shares of the basic materials company's stock worth $3,709,000 after acquiring an additional 22,310 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its holdings in Pan American Silver by 2.1% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 496,605 shares of the basic materials company's stock worth $25,725,000 after acquiring an additional 10,255 shares in the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

Pan American Silver Trading Up 3.6%

NYSE PAAS opened at $48.22 on Friday. Pan American Silver Corp. has a one year low of $26.76 and a one year high of $69.99. The company has a 50-day simple moving average of $55.03 and a 200-day simple moving average of $54.82. 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 capitalization of $20.32 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.37 and a beta of 0.67.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, beating 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 business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business posted $0.42 EPS. The company's quarterly revenue was up 49.3% on a year-over-year basis. On average, equities analysts forecast that Pan American Silver Corp. will post 4.65 earnings per share for the current year.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.5%. Pan American Silver's payout ratio is 23.15%.

Analysts Set New Price Targets

Several research analysts have weighed in on PAAS shares. Zacks Research lowered shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 22nd. Royal Bank Of Canada reissued an "outperform" rating and set a $75.00 price objective on shares of Pan American Silver in a report on Tuesday, April 28th. Wall Street Zen lowered shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 30th. TD Cowen raised shares of Pan American Silver from a "hold" rating to a "buy" rating and raised their price objective for the stock from $67.00 to $72.00 in a report on Tuesday, May 12th. Finally, TD Securities raised shares of Pan American Silver from a "hold" rating to a "buy" rating and set a $72.00 price objective for the company in a report on Monday, May 11th. Eight equities research analysts have rated the stock with a Buy rating and two 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 a consensus target price of $68.00.

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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