Graham Capital Management L.P. Reduces Stock Holdings in Pan American Silver Corp. $PAAS

Key Points

• Graham Capital Management L.P. reduced its stake in Pan American Silver Corp. by 21.6%, owning 46,490 shares valued at approximately $1.2 million after selling 12,793 shares.
• Pan American Silver announced a quarterly dividend increase to $0.12 per share, up from the previous $0.10, representing an annual yield of 1.4%.
• Analysts have mixed views on Pan American Silver, with a consensus rating of "Hold" and an average price target of $31.40.

Graham Capital Management L.P. trimmed its stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 21.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,490 shares of the basic materials company's stock after selling 12,793 shares during the quarter. Graham Capital Management L.P.'s holdings in Pan American Silver were worth $1,201,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Graybill Wealth Management LTD. bought a new position in shares of Pan American Silver during the 1st quarter worth approximately $33,000. Farther Finance Advisors LLC increased its holdings in Pan American Silver by 39.8% during the 1st quarter. Farther Finance Advisors LLC now owns 2,720 shares of the basic materials company's stock valued at $70,000 after purchasing an additional 775 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Pan American Silver by 507.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the basic materials company's stock worth $116,000 after purchasing an additional 3,759 shares in the last quarter. Rossby Financial LCC purchased a new stake in Pan American Silver during the 1st quarter valued at $151,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Pan American Silver in the 1st quarter worth $161,000. Institutional investors and hedge funds own 55.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Securities reduced 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. CIBC reissued an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 15th. National Bank Financial upgraded shares of Pan American Silver to a "strong-buy" rating in a report on Thursday. National Bankshares reaffirmed an "outperform" rating on shares of Pan American Silver in a research report on Friday. Finally, Scotiabank reduced their target price on shares of Pan American Silver from $36.50 to $36.00 and set an "outperform" rating for the company in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $32.20.

Pan American Silver Stock Performance

PAAS stock traded up $1.20 during midday trading on Monday, hitting $35.80. 7,390,037 shares of the company traded hands, compared to its average volume of 4,613,805. The business has a 50 day simple moving average of $30.48 and a 200-day simple moving average of $27.31. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 0.43 and a beta of 0.64. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15. Pan American Silver Corp. has a twelve month low of $18.50 and a twelve month high of $36.14.

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

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 18th. This is a boost from Pan American Silver's previous quarterly dividend of $0.10. Pan American Silver's payout ratio is presently 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.