PCJ Investment Counsel Ltd. Purchases 9,830 Shares of Pan American Silver Corp. (NYSE:PAAS)

Key Points

• PCJ Investment Counsel Ltd. increased its stake in Pan American Silver Corp. by 20.4%, acquiring an additional 9,830 shares, bringing its total holdings to 58,000 shares valued at approximately $1.5 million.
• Pan American Silver reported earnings of $0.43 per share for the last quarter, surpassing expectations and demonstrating a 18.3% increase in revenue compared to the previous year.
• Several institutional investors have recently changed their positions in Pan American Silver, with 55.43% of the company's stock now owned by these investors.

PCJ Investment Counsel Ltd. lifted its position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 20.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,000 shares of the basic materials company's stock after acquiring an additional 9,830 shares during the period. PCJ Investment Counsel Ltd.'s holdings in Pan American Silver were worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PAAS. Arrowstreet Capital Limited Partnership bought a new position in Pan American Silver in the 4th quarter valued at approximately $1,233,000. Wellington Management Group LLP lifted its stake in Pan American Silver by 191.0% in the 4th quarter. Wellington Management Group LLP now owns 167,847 shares of the basic materials company's stock valued at $3,394,000 after purchasing an additional 110,170 shares during the last quarter. Franklin Resources Inc. lifted its stake in Pan American Silver by 6.4% in the 4th quarter. Franklin Resources Inc. now owns 252,494 shares of the basic materials company's stock valued at $5,101,000 after purchasing an additional 15,275 shares during the last quarter. Geode Capital Management LLC lifted its stake in Pan American Silver by 32.2% in the 4th quarter. Geode Capital Management LLC now owns 2,027,461 shares of the basic materials company's stock valued at $40,776,000 after purchasing an additional 494,133 shares during the last quarter. Finally, Aviva PLC bought a new position in Pan American Silver in the 4th quarter valued at approximately $4,108,000. Institutional investors own 55.43% of the company's stock.

Pan American Silver Trading Up 7.0%

PAAS opened at $31.41 on Friday. Pan American Silver Corp. has a twelve month low of $18.15 and a twelve month high of $31.58. The company has a quick ratio of 1.94, a current ratio of 2.93 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $28.64 and a 200-day moving average of $25.99. The stock has a market cap of $11.36 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 0.39 and a beta of 0.60.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Pan American Silver had a net margin of 16.80% and a return on equity of 11.64%. The company had revenue of $811.90 million during the quarter, compared to analysts' expectations of $782.12 million. During the same period in the prior year, the company posted $0.11 earnings per share. Pan American Silver's revenue for the quarter was up 18.3% compared to the same quarter last year. On average, sell-side analysts predict that Pan American Silver Corp. will post 1.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PAAS shares. Scotiabank reissued a "sector perform" rating on shares of Pan American Silver in a research note on Monday, April 14th. BMO Capital Markets initiated coverage on shares of Pan American Silver in a research note on Wednesday, April 16th. They issued a "market perform" rating for the company. TD Securities dropped their price target on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a research note on Thursday, May 22nd. Wall Street Zen raised shares of Pan American Silver from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. Finally, CIBC reaffirmed an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Pan American Silver presently has an average rating of "Moderate Buy" and a consensus target price of $31.40.

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.

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