Parvin Asset Management LLC Takes Position in Pan American Silver Corp. $PAAS

Key Points

• Parvin Asset Management purchased 34,779 shares of Pan American Silver valued at approximately $1.56 million, making PAAS its 14th-largest holding. Institutional investors collectively own 55.43% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $70.43.
• Pan American Silver reported quarterly revenue growth of 38.4% year over year, though earnings and revenue fell short of estimates. The company also increased its quarterly dividend to $0.184 per share, representing a 1.4% yield.

Parvin Asset Management LLC purchased a new position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 34,779 shares of the basic materials company's stock, valued at approximately $1,558,000. Pan American Silver accounts for 1.2% of Parvin Asset Management LLC's investment portfolio, making the stock its 14th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC lifted its position in Pan American Silver by 48.6% during the 1st quarter. AQR Capital Management LLC now owns 19,529 shares of the basic materials company's stock worth $504,000 after acquiring an additional 6,391 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Pan American Silver by 574.9% in the first quarter. Jones Financial Companies Lllp now owns 19,518 shares of the basic materials company's stock valued at $504,000 after acquiring an additional 16,626 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Pan American Silver by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,499,343 shares of the basic materials company's stock worth $38,728,000 after acquiring an additional 360,283 shares during the period. Empowered Funds LLC acquired a new position in shares of Pan American Silver during the first quarter worth about $1,272,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Pan American Silver by 53.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company's stock worth $48,000 after purchasing an additional 594 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Bank of America lowered their price objective on Pan American Silver from $77.00 to $69.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Zacks Research raised Pan American Silver from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. Scotiabank reaffirmed an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Finally, TD Cowen raised shares of Pan American Silver from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $67.00 to $72.00 in a report on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $70.43.

Pan American Silver Trading Down 2.9%

Shares of PAAS stock opened at $52.63 on Thursday. The company has a market capitalization of $21.95 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 5.01 and a beta of 0.73. 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 50-day moving average price of $46.45 and a 200 day moving average price of $52.70. Pan American Silver Corp. has a twelve month low of $32.32 and a twelve month high of $69.99.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its quarterly earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.11). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.16 billion. Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The company's revenue was up 38.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. Research analysts forecast that Pan American Silver Corp. will post 4.06 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.184 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, August 24th. This is an increase from Pan American Silver's previous quarterly dividend of $0.18. Pan American Silver's payout ratio is currently 22.36%.

About Pan American Silver

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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