Veracity Capital LLC Makes New $258,000 Investment in Pan American Silver Corp. (NYSE:PAAS)

Veracity Capital LLC bought a new position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,999 shares of the basic materials company's stock, valued at approximately $258,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Pan American Silver in the 4th quarter worth $43,000. Ingalls & Snyder LLC raised its stake in Pan American Silver by 5.4% in the 4th quarter. Ingalls & Snyder LLC now owns 1,726,999 shares of the basic materials company's stock worth $34,920,000 after acquiring an additional 89,011 shares during the last quarter. Triasima Portfolio Management inc. purchased a new position in Pan American Silver in the 4th quarter worth $2,911,000. Allspring Global Investments Holdings LLC grew its position in Pan American Silver by 11.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 488,119 shares of the basic materials company's stock worth $9,869,000 after purchasing an additional 48,419 shares during the period. Finally, Renaissance Technologies LLC grew its position 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 worth $30,295,000 after purchasing an additional 784,906 shares during the period. Hedge funds and other institutional investors own 55.43% of the company's stock.

Pan American Silver Price Performance

Shares of NYSE:PAAS traded up $0.04 during trading on Friday, reaching $28.64. 10,886,915 shares of the company's stock traded hands, compared to its average volume of 3,864,605. Pan American Silver Corp. has a fifty-two week low of $17.86 and a fifty-two week high of $29.19. The company has a quick ratio of 0.96, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. The firm has a market cap of $10.37 billion, a PE ratio of 89.50 and a beta of 0.63. The company has a 50-day simple moving average of $24.89 and a 200-day simple moving average of $23.78.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its earnings results on Wednesday, May 7th. The basic materials company reported $0.42 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $696.62 million. During the same period last year, the firm earned $0.01 EPS. The company's quarterly revenue was up 28.6% on a year-over-year basis. As a group, analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.40%. Pan American Silver's dividend payout ratio (DPR) is currently 45.98%.

Analysts Set New Price Targets

Several brokerages have weighed in on PAAS. Wall Street Zen raised Pan American Silver from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 15th. Scotiabank reaffirmed a "sector perform" rating on shares of Pan American Silver in a research report on Monday, April 14th. CIBC increased their price target on Pan American Silver from $38.00 to $42.00 and gave the stock an "outperformer" rating in a research report on Thursday, May 8th. TD Securities cut their price target on Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a research report on Thursday, May 22nd. Finally, Royal Bank of Canada increased their price target on Pan American Silver from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Pan American Silver presently has an average rating of "Moderate Buy" and an average target price of $30.60.

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.