Vanguard Group Inc. Acquires 3,006,055 Shares of Pan American Silver Corp. $PAAS

Key Points

• Vanguard Group Inc. increased its Pan American Silver stake by 21.2%, buying 3,006,055 shares to hold 17,191,611 shares (~4.07%) worth about $666.19 million.
• Quarterly results beat expectations: Pan American Silver reported $1.11 EPS vs. $0.90 expected and $1.18 billion in revenue (up 44.7% YoY), with a 27.07% net margin.
• Dividend raised to $0.18 per share (from $0.14), payable March 13 with an ex-dividend date of March 2, implying a $0.72 annualized payout and ~1.1% yield.

Vanguard Group Inc. increased its holdings in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 21.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,191,611 shares of the basic materials company's stock after purchasing an additional 3,006,055 shares during the period. Vanguard Group Inc. owned approximately 4.07% of Pan American Silver worth $666,192,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PAAS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Pan American Silver by 15.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,425,601 shares of the basic materials company's stock worth $296,087,000 after buying an additional 1,396,360 shares during the last quarter. Invesco Ltd. boosted its position in Pan American Silver by 49.5% during the second quarter. Invesco Ltd. now owns 9,016,262 shares of the basic materials company's stock worth $256,062,000 after purchasing an additional 2,986,434 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Pan American Silver by 5,674.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,141,108 shares of the basic materials company's stock valued at $174,406,000 after purchasing an additional 6,034,755 shares during the period. Norges Bank acquired a new stake in shares of Pan American Silver in the second quarter worth $155,281,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Pan American Silver by 6.0% in the second quarter. Ameriprise Financial Inc. now owns 4,038,617 shares of the basic materials company's stock worth $114,747,000 after buying an additional 226,933 shares during the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

Pan American Silver Price Performance

Shares of NYSE:PAAS opened at $65.18 on Tuesday. The business's 50 day moving average is $56.37 and its 200-day moving average is $44.19. The company has a current ratio of 2.69, a quick ratio of 1.97 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $27.50 billion, a PE ratio of 26.07, a PEG ratio of 0.61 and a beta of 0.66. Pan American Silver Corp. has a 1-year low of $20.55 and a 1-year high of $69.99.

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

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.18 per share. This is an increase from Pan American Silver's previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, March 2nd. Pan American Silver's dividend payout ratio is currently 28.80%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PAAS. Bank of America boosted their target price 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. Wall Street Zen raised Pan American Silver from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Scotiabank raised their target price on Pan American Silver from $47.00 to $64.00 and gave the company an "outperform" rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pan American Silver in a research report on Monday, December 29th. Finally, Zacks Research downgraded shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 31st. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Pan American Silver presently has an average rating of "Moderate Buy" and a consensus price target of $56.60.

Pan American Silver Company 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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