Torno Capital LLC Makes New Investment in Pan American Silver Corp. (NYSE:PAAS)

Torno Capital LLC acquired a new position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 21,000 shares of the basic materials company's stock, valued at approximately $425,000.

Several other institutional investors and hedge funds have also made changes to their positions in PAAS. Norges Bank acquired a new stake in shares of Pan American Silver in the fourth quarter valued at approximately $91,916,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Pan American Silver in the fourth quarter valued at approximately $24,083,000. Hsbc Holdings PLC raised its stake in Pan American Silver by 661.2% during the 4th quarter. Hsbc Holdings PLC now owns 1,307,617 shares of the basic materials company's stock valued at $26,300,000 after acquiring an additional 1,135,839 shares during the last quarter. Renaissance Technologies LLC raised its stake in Pan American Silver by 110.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,498,246 shares of the basic materials company's stock valued at $30,295,000 after acquiring an additional 784,906 shares during the last quarter. Finally, Man Group plc raised its stake in Pan American Silver by 381.7% during the 4th quarter. Man Group plc now owns 947,560 shares of the basic materials company's stock valued at $19,160,000 after acquiring an additional 750,858 shares during the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on PAAS shares. Scotiabank reaffirmed a "sector perform" rating on shares of Pan American Silver in a research note on Monday, April 14th. Royal Bank of Canada upped their price objective on Pan American Silver from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. CIBC upped their price objective on Pan American Silver from $38.00 to $42.00 and gave the company an "outperformer" rating in a research note on Thursday, May 8th. TD Securities reduced their price objective on Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a research note on Tuesday, May 13th. Finally, BMO Capital Markets began coverage on Pan American Silver in a research note on Wednesday, April 16th. They set a "market perform" rating for the company. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $29.50.

Pan American Silver Price Performance

NYSE:PAAS traded up $0.63 during trading hours on Tuesday, hitting $23.81. The company's stock had a trading volume of 5,427,681 shares, compared to its average volume of 3,791,417. The business's 50-day moving average is $25.08 and its two-hundred day moving average is $23.50. The company has a market capitalization of $8.62 billion, a PE ratio of 74.41 and a beta of 0.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.50. Pan American Silver Corp. has a 52-week low of $17.86 and a 52-week high of $28.60.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.23. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. The firm had revenue of $773.20 million during the quarter, compared to the consensus estimate of $696.62 million. During the same period last year, the business posted $0.01 EPS. Pan American Silver's quarterly revenue was up 28.6% on a year-over-year basis. As a group, research analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 20th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.68%. The ex-dividend date is Tuesday, May 20th. Pan American Silver's payout ratio is currently 45.98%.

Pan American Silver Company Profile

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.