Public Employees Retirement System of Ohio Invests $1.09 Million in Pan American Silver Corp. $PAAS

Key Points

• Public Employees Retirement System of Ohio acquired 24,270 Pan American Silver shares worth approximately $1.09 million in the second quarter. Institutional investors now own 55.43% of the company, with BlackRock also establishing a major $375.9 million position.
• Pan American Silver reported quarterly revenue of $1.12 billion, up 38.4% year over year, but earnings of $0.73 per share fell short of the $0.84 analyst consensus. The stock opened at $51.07, while analysts maintain a “Moderate Buy” consensus and an average price target of $70.43.
• The company raised its quarterly dividend to $0.184 per share, equivalent to an annualized dividend of $0.74 and a 1.4% yield.

Public Employees Retirement System of Ohio acquired a new position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 24,270 shares of the basic materials company's stock, valued at approximately $1,088,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Pan American Silver during the 2nd quarter valued at approximately $375,948,000. Swiss Life Asset Management Ltd raised its holdings in Pan American Silver by 46.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 58,827 shares of the basic materials company's stock valued at $3,051,000 after acquiring an additional 18,791 shares during the period. Royal Palms Capital LLC bought a new stake in Pan American Silver during the 4th quarter valued at $2,170,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Pan American Silver during the second quarter worth $2,347,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Pan American Silver during the fourth quarter worth $1,341,000. 55.43% of the stock is currently owned by institutional investors.

Pan American Silver Stock Performance

NYSE:PAAS opened at $51.07 on Wednesday. The business's 50-day moving average price is $47.46 and its two-hundred day moving average price is $52.34. Pan American Silver Corp. has a twelve month low of $33.08 and a twelve month high of $69.99. The stock has a market cap of $21.21 billion, a P/E ratio of 15.43, a PEG ratio of 5.05 and a beta of 0.77. The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.11). The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.16 billion. Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The firm's revenue for the quarter was up 38.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. As a group, equities analysts predict that Pan American Silver Corp. will post 3.81 EPS for the current fiscal year.

Pan American Silver Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. TD Cowen raised Pan American Silver from a "hold" rating to a "buy" rating and raised their price target for the stock from $67.00 to $72.00 in a report on Tuesday, May 12th. Jefferies Financial Group dropped their price objective on Pan American Silver from $54.00 to $53.00 and set a "hold" rating on the stock in a report on Monday, July 6th. Weiss Ratings cut Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Bank of America lowered 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 report on Thursday, July 9th. Finally, Scotiabank restated an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.43.

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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