Quantbot Technologies LP Invests $2.54 Million in Pan American Silver Corp. $PAAS

Key Points

• Quantbot Technologies purchased 56,806 shares of Pan American Silver worth approximately $2.54 million in the second quarter. Several other hedge funds also initiated positions, while institutional investors collectively own 55.43% of the stock.
• Analyst sentiment remains generally positive, with eight Buy ratings and three Hold ratings, producing a consensus “Moderate Buy” rating and an average price target of $70.43.
• Pan American Silver reported year-over-year revenue growth of 38.4% but missed quarterly EPS and revenue estimates. The company raised its quarterly dividend to $0.184 per share, equivalent to a 1.4% annualized yield.

Quantbot Technologies LP bought a new stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 56,806 shares of the basic materials company's stock, valued at approximately $2,544,000.

Other hedge funds also recently made changes to their positions in the company. De Lisle Partners LLP purchased a new stake in Pan American Silver in the second quarter worth $2,588,000. Korea Investment CORP purchased a new position in Pan American Silver during the second quarter valued at $1,030,000. Ieq Capital LLC bought a new stake in shares of Pan American Silver during the 2nd quarter valued at $436,000. Fund Advisors of America Inc FL bought a new stake in shares of Pan American Silver during the 2nd quarter valued at $530,000. Finally, Allworth Financial LP purchased a new stake in shares of Pan American Silver in the 2nd quarter worth about $72,000. 55.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PAAS. TD Securities upgraded shares of Pan American Silver from a "hold" rating to a "buy" rating and set a $72.00 price target for the company in a research note on Monday, May 11th. BMO Capital Markets restated a "market perform" rating on shares of Pan American Silver in a report on Thursday, August 13th. Scotiabank restated an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 14th. Bank of America decreased their target price on shares of Pan American Silver from $77.00 to $69.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Finally, Wall Street Zen cut Pan American Silver from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $70.43.

Pan American Silver Stock Up 0.1%

Shares of Pan American Silver stock opened at $53.11 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.23 and a current ratio of 2.94. The stock has a market capitalization of $22.15 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 4.90 and a beta of 0.73. Pan American Silver Corp. has a 52-week low of $31.60 and a 52-week high of $69.99. The company has a 50-day simple moving average of $46.31 and a two-hundred day simple moving average of $52.74.

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

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be given a $0.184 dividend. This is a boost from Pan American Silver's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.74 annualized dividend and a yield of 1.4%. Pan American Silver's payout ratio is currently 21.75%.

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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