Sanctuary Advisors LLC Reduces Stock Position in Pan American Silver Corp. $PAAS

Key Points

• Sanctuary Advisors LLC cut its stake by 36.8% in Pan American Silver in Q4, selling 19,951 shares and now holds 34,210 shares valued at $1.772 million.
• Several large institutions boosted positions — VanEck increased its stake 51.8% to 45.14 million shares and Vanguard rose 1.6% to 17.47 million — leaving hedge funds and institutions with about 55.43% ownership.
• Pan American Silver posted a Q4 earnings beat (EPS $1.11 vs. $0.90) with revenue up 44.7% YoY, raised its quarterly dividend to $0.18 (annualized $0.72, 1.4% yield), and carries a consensus "Moderate Buy" target of $59.67.

Sanctuary Advisors LLC cut its stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 36.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,210 shares of the basic materials company's stock after selling 19,951 shares during the period. Sanctuary Advisors LLC's holdings in Pan American Silver were worth $1,772,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PAAS. Van ECK Associates Corp increased its stake in shares of Pan American Silver by 51.8% during the 3rd quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company's stock worth $1,748,355,000 after purchasing an additional 15,405,762 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Pan American Silver by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company's stock worth $905,513,000 after purchasing an additional 274,168 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Pan American Silver by 38.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company's stock worth $560,149,000 after purchasing an additional 4,037,311 shares in the last quarter. Invesco Ltd. increased its stake in shares of Pan American Silver by 9.8% during the 3rd quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company's stock worth $383,365,000 after purchasing an additional 882,135 shares in the last quarter. Finally, First Eagle Investment Management LLC purchased a new position in shares of Pan American Silver during the 3rd quarter worth approximately $178,004,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PAAS has been the subject of a number of recent research reports. Wall Street Zen raised shares of Pan American Silver from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Scotiabank raised their price objective on shares of Pan American Silver from $47.00 to $64.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce set a $88.00 price objective on shares of Pan American Silver and gave the stock an "outperform" rating in a research note on Wednesday, February 4th. Zacks Research cut shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group dropped their price objective on shares of Pan American Silver from $58.00 to $54.00 and set a "hold" rating for the company in a research note on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.67.

Pan American Silver Stock Down 0.0%

PAAS stock opened at $51.80 on Monday. The stock has a market capitalization of $21.83 billion, a P/E ratio of 20.72, a PEG ratio of 0.43 and a beta of 0.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.97 and a current ratio of 2.69. Pan American Silver Corp. has a one year low of $22.08 and a one year high of $69.99. The company has a 50 day moving average price of $57.08 and a two-hundred day moving average price of $51.37.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its earnings results on Wednesday, February 18th. The basic materials company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.90 by $0.21. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.11 billion. Pan American Silver had a net margin of 27.07% and a return on equity of 16.38%. Pan American Silver's revenue for the quarter was up 44.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS. As a group, sell-side analysts expect that Pan American Silver Corp. will post 4.45 EPS for the current year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Pan American Silver's previous quarterly dividend of $0.14. Pan American Silver's dividend payout ratio is presently 28.80%.

Pan American Silver Profile

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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