SEB Asset Management AB Makes New $3.33 Million Investment in Pan American Silver Corp. $PAAS

Key Points

• SEB Asset Management AB opened a new position in Pan American Silver during the first quarter, buying 61,003 shares valued at about $3.33 million.
• Pan American Silver reported strong quarterly results, with EPS of $1.09 topping estimates and revenue of $1.33 billion, up 49.3% year over year.
• Analyst sentiment remains mixed but generally positive: the stock carries a Moderate Buy consensus with an average target price of $70.43, though some firms recently trimmed targets or downgraded the name.

SEB Asset Management AB acquired a new position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 61,003 shares of the basic materials company's stock, valued at approximately $3,327,000.

Several other hedge funds have also modified their holdings of PAAS. Vanguard Group Inc. raised its holdings in Pan American Silver by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company's stock valued at $905,513,000 after acquiring an additional 274,168 shares in the last quarter. Ninety One UK Ltd lifted its stake in Pan American Silver by 3.2% in the fourth quarter. Ninety One UK Ltd now owns 2,225,237 shares of the basic materials company's stock worth $115,290,000 after acquiring an additional 69,985 shares during the last quarter. Elevatus Welath Management acquired a new position in Pan American Silver during the 4th quarter worth approximately $3,371,000. Swiss Life Asset Management Ltd grew 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 worth $3,051,000 after acquiring an additional 18,791 shares in the last quarter. Finally, MH & Associates Securities Management Corp ADV purchased a new stake in shares of Pan American Silver in the 4th quarter valued at approximately $4,820,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Pan American Silver Price Performance

Shares of NYSE:PAAS opened at $45.28 on Thursday. Pan American Silver Corp. has a 12 month low of $26.76 and a 12 month high of $69.99. The firm has a market capitalization of $18.88 billion, a P/E ratio of 14.56, a P/E/G ratio of 3.93 and a beta of 0.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.84 and a quick ratio of 2.11. The company's fifty day moving average price is $48.66 and its 200 day moving average price is $54.29.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the company posted $0.42 earnings per share. The business's quarterly revenue was up 49.3% compared to the same quarter last year. As a group, sell-side analysts predict that Pan American Silver Corp. will post 4.02 earnings per share for the current fiscal year.

Pan American Silver Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Pan American Silver's dividend payout ratio (DPR) is currently 23.15%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PAAS. Jefferies Financial Group reduced their price objective on shares of Pan American Silver from $54.00 to $53.00 and set a "hold" rating on the stock in a report on Monday, July 6th. Zacks Research lowered Pan American Silver from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Royal Bank Of Canada restated an "outperform" rating and issued a $75.00 price target on shares of Pan American Silver in a research note on Tuesday, April 28th. Scotiabank reaffirmed an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 14th. Finally, TD Cowen raised Pan American Silver from a "hold" rating to a "buy" rating and upped their price objective for the stock from $67.00 to $72.00 in a research report on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Pan American Silver has an average rating of "Moderate Buy" and an average target price of $70.43.

Pan American Silver Company 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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