The Manufacturers Life Insurance Company Takes Position in Pan American Silver Corp. $PAAS

Key Points

• The Manufacturers Life Insurance Company acquired 3.25 million Pan American Silver shares worth approximately $145.3 million, giving it a 0.78% stake. Institutional investors collectively own 55.43% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $70.43.
• Pan American Silver reported quarterly revenue of $1.12 billion, up 38.4% year over year, though earnings and revenue fell short of estimates. The company increased its quarterly dividend to $0.184 per share, implying a 1.4% annual yield.

The Manufacturers Life Insurance Company bought a new position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,247,246 shares of the basic materials company's stock, valued at approximately $145,312,000. The Manufacturers Life Insurance Company owned approximately 0.78% of Pan American Silver as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Pan American Silver in the 2nd quarter valued at $375,948,000. Norges Bank purchased a new stake in Pan American Silver in the 4th quarter worth $303,611,000. FIL Ltd lifted its stake in Pan American Silver by 154.7% in the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company's stock worth $378,872,000 after purchasing an additional 4,438,478 shares in the last quarter. Capital International Investors bought a new position in shares of Pan American Silver during the 4th quarter valued at about $215,484,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Pan American Silver during the 2nd quarter valued at about $130,636,000. Institutional investors own 55.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. BMO Capital Markets restated a "market perform" rating on shares of Pan American Silver in a research report on Thursday, August 13th. TD Cowen upgraded Pan American Silver from a "hold" rating to a "buy" rating and boosted their target price for the stock from $67.00 to $72.00 in a research report on Tuesday, May 12th. Jefferies Financial Group dropped their price target on Pan American Silver from $54.00 to $53.00 and set a "hold" rating for the company in a research note on Monday, July 6th. TD Securities upgraded Pan American Silver from a "hold" rating to a "buy" rating and set a $72.00 price target for the company in a report on Monday, May 11th. Finally, Wall Street Zen downgraded Pan American Silver from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $70.43.

Pan American Silver Stock Performance

Shares of NYSE:PAAS opened at $53.58 on Tuesday. Pan American Silver Corp. has a 52 week low of $32.32 and a 52 week high of $69.99. The stock has a market capitalization of $22.35 billion, a P/E ratio of 16.19, a PEG ratio of 4.90 and a beta of 0.73. The firm has a fifty day simple moving average of $46.37 and a two-hundred day simple moving average of $52.72. The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced 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). The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.16 billion. Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The firm's quarterly revenue was up 38.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 earnings per share. On average, analysts expect that Pan American Silver Corp. will post 4.06 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be given a dividend of $0.184 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.4%. This is a boost from Pan American Silver's previous quarterly dividend of $0.18. The ex-dividend date is Monday, August 24th. Pan American Silver's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source