Raymond James Financial Inc. Grows Position in Pan American Silver Corp. $PAAS

Key Points

• Raymond James Financial Inc. increased its stake in Pan American Silver Corp. by 5.4%, owning 356,239 shares valued at approximately $9.2 million.
• Pan American Silver recently reported earnings of $0.43 per share for the last quarter, beating estimates and reflecting an 18.3% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.12 per share, up from the previous $0.10, marking a yield of 1.4%.

Raymond James Financial Inc. grew its stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 356,239 shares of the basic materials company's stock after buying an additional 18,265 shares during the period. Raymond James Financial Inc. owned 0.10% of Pan American Silver worth $9,202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PAAS. Concurrent Investment Advisors LLC bought a new position in shares of Pan American Silver in the first quarter worth approximately $222,000. D.A. Davidson & CO. bought a new position in shares of Pan American Silver in the first quarter worth approximately $358,000. Southland Equity Partners LLC bought a new position in shares of Pan American Silver in the first quarter worth approximately $300,000. Northern Trust Corp increased its position in shares of Pan American Silver by 210.1% in the fourth quarter. Northern Trust Corp now owns 83,871 shares of the basic materials company's stock worth $1,696,000 after purchasing an additional 56,826 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Pan American Silver by 191.0% in the fourth quarter. Wellington Management Group LLP now owns 167,847 shares of the basic materials company's stock worth $3,394,000 after purchasing an additional 110,170 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PAAS. Zacks Research cut shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Wall Street Zen cut shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. CIBC restated an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 15th. Finally, TD Securities decreased their price objective on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a research report on Thursday, May 22nd. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $31.40.

Pan American Silver Trading Down 1.4%

Shares of NYSE:PAAS traded down $0.47 during trading on Thursday, reaching $33.57. 2,362,007 shares of the company traded hands, compared to its average volume of 4,572,392. The firm has a market capitalization of $12.15 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 0.46 and a beta of 0.65. Pan American Silver Corp. has a 52-week low of $18.50 and a 52-week high of $35.00. The company has a current ratio of 3.05, a quick ratio of 2.11 and a debt-to-equity ratio of 0.15. The business's fifty day moving average is $30.25 and its 200-day moving average is $27.15.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. The firm had revenue of $811.90 million during the quarter, compared to analyst estimates of $782.12 million. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The business's quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 earnings per share. As a group, analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Pan American Silver's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, August 18th. Pan American Silver's payout ratio is currently 33.10%.

Pan American Silver Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.