Pan American Silver Corp. $PAAS Shares Sold by Ruffer LLP

Key Points

• Ruffer LLP cut its stake by 32.5% in Q4, selling 293,423 shares and now holding 608,328 shares of Pan American Silver worth about $31.6 million (0.14% of the company and ~1.4% of Ruffer’s portfolio).
• Company fundamentals improved: Pan American Silver beat Q4 estimates with $1.11 EPS versus $0.90 and $1.18B revenue (up 44.7% YoY), and raised its quarterly dividend to $0.18 (annualized $0.72, 1.3% yield).
• Analyst view is mixed: consensus is a “Moderate Buy” with a $56.60 target, but National Bank Financial’s broad cuts to EPS forecasts across multiple years represent a meaningful near‑to‑medium‑term negative catalyst.

Ruffer LLP lowered its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 32.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 608,328 shares of the basic materials company's stock after selling 293,423 shares during the period. Pan American Silver makes up approximately 1.4% of Ruffer LLP's investment portfolio, making the stock its 21st largest holding. Ruffer LLP owned 0.14% of Pan American Silver worth $31,567,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company's stock valued at $25,000 after buying an additional 387 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Pan American Silver in the third quarter valued at approximately $36,000. Trust Co. of Vermont purchased a new stake in Pan American Silver in the fourth quarter valued at approximately $48,000. City State Bank boosted its position in Pan American Silver by 74.4% in the third quarter. City State Bank now owns 1,020 shares of the basic materials company's stock valued at $40,000 after buying an additional 435 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Pan American Silver by 93.6% in the third quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company's stock valued at $40,000 after buying an additional 497 shares during the last quarter. Hedge funds and other institutional investors own 55.43% of the company's stock.

Pan American Silver Trading Down 5.2%

Shares of PAAS stock opened at $55.64 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.69 and a quick ratio of 1.97. The company has a market cap of $23.45 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 0.49 and a beta of 0.75. The stock has a 50 day simple moving average of $57.61 and a 200-day simple moving average of $50.65. Pan American Silver Corp. has a 1-year low of $22.08 and a 1-year high of $69.99.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its earnings results on Wednesday, February 18th. The basic materials company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.21. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.11 billion. Pan American Silver had a return on equity of 16.38% and a net margin of 27.07%.The business's quarterly revenue was up 44.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. On average, equities research analysts expect that Pan American Silver Corp. will post 4.42 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from Pan American Silver's previous quarterly dividend of $0.14. Pan American Silver's dividend payout ratio is currently 28.80%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PAAS. Canadian Imperial Bank of Commerce set a $88.00 target price on Pan American Silver and gave the company an "outperform" rating in a research report on Wednesday, February 4th. Scotiabank upped their target price on Pan American Silver from $47.00 to $64.00 and gave the company an "outperform" rating in a research report on Monday, January 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Pan American Silver in a research report on Monday, December 29th. Zacks Research upgraded Pan American Silver from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 24th. Finally, Jefferies Financial Group lowered their price objective on Pan American Silver from $58.00 to $54.00 and set a "hold" rating on the stock in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Pan American Silver presently has an average rating of "Moderate Buy" and a consensus target price of $56.60.

Key Headlines Impacting Pan American Silver

Here are the key news stories impacting Pan American Silver this week:

• Positive Sentiment: Bank of America recently raised its price target for PAAS (reported in coverage calling PAAS a top long‑term Canadian pick), supporting longer‑term investor sentiment. Is Pan American Silver (PAAS) One of the Best Canadian Stocks to Buy for Long Term?
• Positive Sentiment: Broker consensus remains constructive: PAAS is carrying a “Moderate Buy” consensus from brokerages, which can buoy demand from institutional/quant strategies. Pan American Silver Receives Consensus Rating of "Moderate Buy"
• Neutral Sentiment: Pan American scheduled Q1 2026 unaudited results for release after the close on May 5 and will hold its Annual General & Special Meeting on April 30 — clears the calendar for near‑term catalysts and an earnings event on May 5 (conference call May 6). Pan American Silver to Announce First Quarter 2026 Unaudited Results
• Neutral Sentiment: Sector pieces comparing PAAS to SSR Mining highlight that both miners are benefitting from higher silver/gold prices; these comparisons help inform relative positioning but don’t change company‑specific fundamentals. Pan American Silver vs. SSR Mining: Which Mining Stock Wins Now?
• Negative Sentiment: National Bank Financial (analyst D. Demarco) issued widespread cuts to PAAS EPS estimates across multiple quarters and years (examples: Q1 2026 cut to $1.06 from $1.35; Q2 2026 to $1.19 from $1.44; Q4 2026 to $1.06 from $1.38; FY2026 to $4.48 from $5.53; FY2027 to $5.71 from $6.50; FY2028 to $5.04 from $5.92; FY2029 to $3.62 from $4.38; FY2030 to $2.27 from $2.92). These downward revisions reduce near‑to‑medium‑term earnings expectations and are the most direct negative catalyst for the stock today. MarketBeat PAAS coverage (source for analyst note summary)

Pan American Silver 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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