Tocqueville Asset Management L.P. Buys New Position in Pan American Silver Corp. $PAAS

Key Points

• Tocqueville Asset Management acquired 22,221 shares of Pan American Silver in the second quarter, worth approximately $995,000. Institutional investors and hedge funds collectively own 55.43% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $70.43. However, some firms recently lowered ratings or price targets.
• Pan American Silver reported year-over-year revenue growth of 38.4% but missed quarterly EPS and revenue estimates. The company raised its quarterly dividend to $0.184 per share, implying an annualized yield of about 1.4%.

Tocqueville Asset Management L.P. bought a new stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 22,221 shares of the basic materials company's stock, valued at approximately $995,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PAAS. BlackRock Inc. purchased a new position in shares of Pan American Silver in the second quarter valued at approximately $375,948,000. Norges Bank acquired a new stake in Pan American Silver during the 4th quarter worth approximately $303,611,000. FIL Ltd lifted its holdings in Pan American Silver by 154.7% during the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company's stock worth $378,872,000 after buying an additional 4,438,478 shares in the last quarter. Capital International Investors purchased a new position in Pan American Silver in the 4th quarter valued at approximately $215,484,000. Finally, Bank of America Corp DE grew its stake in shares of Pan American Silver by 148.3% in the second quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company's stock worth $95,658,000 after acquiring an additional 2,011,862 shares in the last quarter. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen cut Pan American Silver from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings downgraded Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Pan American Silver in a research report on Thursday, August 13th. Bank of America decreased their price objective on Pan American Silver from $77.00 to $69.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Finally, TD Securities upgraded shares of Pan American Silver from a "hold" rating to a "buy" rating and set a $72.00 target price on the stock in a research note on Monday, May 11th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Pan American Silver has a consensus rating of "Moderate Buy" and an average target price of $70.43.

Pan American Silver Stock Up 3.3%

Pan American Silver stock opened at $51.95 on Friday. The stock has a market cap of $21.67 billion, a PE ratio of 15.69, a P/E/G ratio of 4.67 and a beta of 0.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. The stock's fifty day moving average is $46.22 and its two-hundred day moving average is $52.75. Pan American Silver Corp. has a 1-year low of $31.16 and a 1-year high of $69.99.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings data 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). Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted $0.43 earnings per share. The company's revenue was up 38.4% compared to the same quarter last year. On average, sell-side analysts expect that Pan American Silver Corp. will post 4.03 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be issued a $0.184 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Pan American Silver's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, August 24th. Pan American Silver's dividend payout ratio is currently 21.75%.

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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