Pan American Silver Corp. $PAAS Stock: U S Global Investors Inc. Trims Position

Key Points

• U.S. Global Investors cut its Pan American Silver stake by 49.8% in the third quarter, selling 88,000 shares and retaining 88,555 shares valued at approximately $4.03 million.
• Institutional investors own 55.43% of PAAS, while several major funds—including BlackRock, Manulife, and the Canada Pension Plan Investment Board—established new positions during the second quarter.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $67.71, although some firms recently lowered their targets. The company’s latest quarterly results missed earnings and revenue estimates despite 38.4% year-over-year revenue growth.

U S Global Investors Inc. decreased its holdings in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 49.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,555 shares of the basic materials company's stock after selling 88,000 shares during the period. U S Global Investors Inc.'s holdings in Pan American Silver were worth $4,030,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PAAS. BlackRock Inc. bought a new position in shares of Pan American Silver during the second quarter valued at approximately $375,948,000. The Manufacturers Life Insurance Company purchased a new stake in Pan American Silver in the second quarter worth $145,312,000. Canada Pension Plan Investment Board purchased a new stake in Pan American Silver in the second quarter worth $138,282,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Pan American Silver in the second quarter valued at $130,636,000. Finally, Ninety One UK Ltd boosted its holdings in Pan American Silver by 21.5% in the third quarter. Ninety One UK Ltd now owns 2,727,961 shares of the basic materials company's stock valued at $124,150,000 after acquiring an additional 481,873 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on PAAS. BMO Capital Markets restated a "market perform" rating on shares of Pan American Silver in a report on Thursday, August 13th. Wall Street Zen cut shares of Pan American Silver from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Scotiabank reaffirmed an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Bank of America reduced their price target on shares of Pan American Silver from $77.00 to $69.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada reduced their price target on shares of Pan American Silver from $65.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 16th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $67.71.

Pan American Silver Stock Performance

Shares of Pan American Silver stock opened at $41.12 on Friday. 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 firm has a market capitalization of $17.01 billion, a P/E ratio of 12.42, a P/E/G ratio of 4.88 and a beta of 0.75. The business has a fifty day simple moving average of $48.32 and a two-hundred day simple moving average of $49.82. Pan American Silver Corp. has a 12 month low of $33.08 and a 12 month high of $69.99.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.11). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.16 billion. Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The business's quarterly revenue was up 38.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. On average, equities analysts forecast that Pan American Silver Corp. will post 3.35 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Monday, August 24th were paid a dividend of C$0.18 per share. The ex-dividend date of this dividend was Monday, August 24th. This is an increase from Pan American Silver's previous quarterly dividend of C$0.18. This represents a $0.74 annualized dividend and a yield of 1.8%. Pan American Silver's payout ratio is presently 22.36%.

About Pan American Silver

Pan American Silver Corp. is a Canada-based precious metals mining company that explores, develops and operates mines producing silver, gold, zinc, lead and other mineral concentrates. Its activities include mine development, mineral processing, exploration and related infrastructure and support services.

Founded in 1994, Pan American Silver has built a portfolio of mining operations and projects across the Americas. The company's assets have included operations in Mexico, Peru, Bolivia, Argentina, Brazil and Chile, while certain properties in countries such as Guatemala have been placed on care and maintenance or otherwise reassessed over time.

Want to see what other hedge funds are holding PAAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.