Ruffer LLP Sells 66,715 Shares of Pan American Silver Corp. $PAAS

Key Points

• Ruffer LLP has decreased its stake in Pan American Silver Corp. by 6.8%, selling 66,715 shares during the second quarter, leaving it with 913,329 shares worth approximately $25.9 million.
• Multiple institutional investors, including UBS AM and Wellington Management Group, have increased their holdings in Pan American Silver, with Wellington boosting its stake by 191%.
• Pan American Silver reported an earnings per share of $0.43 for the last quarter, exceeding estimates while also announcing an increase in its quarterly dividend to $0.12 per share.

Ruffer LLP lessened its holdings in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 6.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 913,329 shares of the basic materials company's stock after selling 66,715 shares during the quarter. Pan American Silver makes up 1.1% of Ruffer LLP's portfolio, making the stock its 22nd biggest position. Ruffer LLP owned 0.25% of Pan American Silver worth $25,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAAS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Pan American Silver by 16.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 500,868 shares of the basic materials company's stock valued at $10,128,000 after acquiring an additional 69,596 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Pan American Silver by 11.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 29,115 shares of the basic materials company's stock valued at $589,000 after acquiring an additional 2,924 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new position in shares of Pan American Silver during the fourth quarter valued at approximately $3,365,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Pan American Silver by 143.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,163 shares of the basic materials company's stock valued at $630,000 after acquiring an additional 18,343 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Pan American Silver by 191.0% during the fourth quarter. Wellington Management Group LLP now owns 167,847 shares of the basic materials company's stock valued at $3,394,000 after acquiring an additional 110,170 shares in the last quarter. Institutional investors own 55.43% of the company's stock.

Wall Street Analyst Weigh In

PAAS has been the subject of a number of research reports. National Bankshares reiterated an "outperform" rating on shares of Pan American Silver in a report on Friday, September 5th. CIBC reissued an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 15th. Wall Street Zen cut Pan American Silver from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. National Bank Financial raised Pan American Silver to a "strong-buy" rating in a research note on Thursday, September 4th. Finally, Scotiabank cut their target price on Pan American Silver from $36.50 to $36.00 and set an "outperform" rating on the stock in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $32.20.

Pan American Silver Trading Down 3.5%

Pan American Silver stock opened at $36.46 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.05 and a quick ratio of 2.11. Pan American Silver Corp. has a one year low of $19.80 and a one year high of $38.41. The stock has a market capitalization of $15.39 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 0.61 and a beta of 0.65. The business's fifty day moving average is $32.37 and its 200 day moving average is $28.35.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The company had revenue of $811.90 million for the quarter, compared to analysts' expectations of $782.12 million. During the same period last year, the firm posted $0.11 earnings per share. Pan American Silver's revenue 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.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 18th. This is a positive change from Pan American Silver's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 1.3%. Pan American Silver's payout ratio is 33.10%.

Pan American Silver Company 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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