Pan American Silver Corp. (NYSE:PAAS) Shares Bought by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Pan American Silver Corp. by 71.7% during Q1, purchasing an additional 823,390 shares, bringing its total holdings to approximately $50.9 million.
• The company recently reported strong Q1 earnings of $0.42 EPS, significantly exceeding analysts' estimates, with revenue increasing by 28.6% year-over-year.
• Pan American Silver declared a quarterly dividend of $0.10 per share, with a current yield of 1.41% and a payout ratio of approximately 46%.

TD Asset Management Inc raised its stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 71.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,971,544 shares of the basic materials company's stock after buying an additional 823,390 shares during the period. TD Asset Management Inc owned about 0.54% of Pan American Silver worth $50,917,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PAAS. Cetera Investment Advisers raised its position in shares of Pan American Silver by 11.3% in the first quarter. Cetera Investment Advisers now owns 229,680 shares of the basic materials company's stock worth $5,933,000 after acquiring an additional 23,303 shares during the period. Brookwood Investment Group LLC acquired a new position in Pan American Silver in the 1st quarter worth about $238,000. Cadence Wealth Management LLC raised its holdings in Pan American Silver by 3.4% in the 1st quarter. Cadence Wealth Management LLC now owns 41,130 shares of the basic materials company's stock worth $1,062,000 after purchasing an additional 1,342 shares during the period. Ninepoint Partners LP purchased a new position in Pan American Silver during the first quarter worth approximately $1,231,000. Finally, Choreo LLC acquired a new stake in Pan American Silver in the first quarter valued at approximately $284,000. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Price Performance

Shares of Pan American Silver stock traded down $0.08 on Friday, hitting $26.94. 2,644,932 shares of the company were exchanged, compared to its average volume of 4,497,315. Pan American Silver Corp. has a 1-year low of $17.86 and a 1-year high of $31.03. The company has a quick ratio of 1.94, a current ratio of 2.93 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 31.06, a price-to-earnings-growth ratio of 0.38 and a beta of 0.67. The company has a 50-day moving average price of $28.15 and a 200 day moving average price of $25.72.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.23. Pan American Silver had a return on equity of 9.25% and a net margin of 10.45%. The company had revenue of $773.20 million during the quarter, compared to analysts' expectations of $696.62 million. During the same period in the prior year, the business earned $0.01 EPS. The firm's quarterly revenue was up 28.6% on a year-over-year basis. As a group, sell-side analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 20th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, May 20th. Pan American Silver's payout ratio is presently 45.98%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PAAS shares. TD Securities decreased their target price on Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a research report on Thursday, May 22nd. Wall Street Zen upgraded shares of Pan American Silver from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 15th. CIBC reaffirmed an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 15th. BMO Capital Markets started coverage on Pan American Silver in a research note on Wednesday, April 16th. They issued a "market perform" rating on the stock. Finally, Scotiabank reissued a "sector perform" rating on shares of Pan American Silver in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.40.

About Pan American Silver

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.