Van ECK Associates Corp Acquires 15,405,762 Shares of Pan American Silver Corp. $PAAS

Key Points

• VanECK Associates boosted its stake in Pan American Silver by 51.8% in Q3, purchasing 15,405,762 shares to hold 45,142,060 shares (about 10.70% of PAAS) valued at roughly $1.748 billion, making it the firm's 12th‑largest holding.
• Pan American Silver reported stronger quarterly results—EPS of $1.11 vs. $0.90 expected and revenue of $1.18B (up 44.7% YoY)—and raised its quarterly dividend to $0.18 ($0.72 annualized, ~1.2% yield), while analysts on average rate the stock a Moderate Buy.

Van ECK Associates Corp increased its stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 51.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,142,060 shares of the basic materials company's stock after buying an additional 15,405,762 shares during the period. Pan American Silver accounts for approximately 1.6% of Van ECK Associates Corp's holdings, making the stock its 12th biggest holding. Van ECK Associates Corp owned about 10.70% of Pan American Silver worth $1,748,355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its position in shares of Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company's stock worth $25,000 after purchasing an additional 387 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Pan American Silver in the third quarter valued at approximately $36,000. City State Bank lifted its holdings in Pan American Silver by 74.4% during the 3rd quarter. City State Bank now owns 1,020 shares of the basic materials company's stock worth $40,000 after buying an additional 435 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Pan American Silver by 93.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company's stock valued at $40,000 after buying an additional 497 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of Pan American Silver by 3,111.4% in the 3rd quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company's stock valued at $44,000 after buying an additional 1,089 shares during the period. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Price Performance

PAAS opened at $60.63 on Tuesday. The stock has a market cap of $25.58 billion, a P/E ratio of 24.25, a P/E/G ratio of 0.55 and a beta of 0.61. Pan American Silver Corp. has a 12 month low of $20.55 and a 12 month high of $69.99. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $58.61 and a 200 day simple moving average of $46.45.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its earnings results on Wednesday, February 18th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.21. Pan American Silver had a return on equity of 16.38% and a net margin of 27.07%.The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the previous year, the firm earned $0.35 earnings per share. The company's revenue was up 44.7% on a year-over-year basis. On average, research analysts expect that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Pan American Silver's previous quarterly dividend of $0.14. Pan American Silver's dividend payout ratio (DPR) is currently 28.80%.

Analyst Ratings Changes

Several research firms recently issued reports on PAAS. Weiss Ratings reiterated a "buy (b)" rating on shares of Pan American Silver in a report on Monday, December 29th. Canadian Imperial Bank of Commerce set a $88.00 target price on shares of Pan American Silver and gave the company an "outperform" rating in a research report on Wednesday, February 4th. Zacks Research lowered shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 31st. Bank of America lifted their price target on shares of Pan American Silver from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Monday, December 1st. Finally, Scotiabank boosted their price target on shares of Pan American Silver from $47.00 to $64.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $56.60.

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.

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