Vontobel Holding Ltd. Makes New Investment in Pan American Silver Corp. $PAAS

Key Points

• Vontobel Holding Ltd. has invested approximately $2,521,000 in Pan American Silver Corp. by purchasing 88,763 shares during the second quarter.
• Several analysts upgraded Pan American Silver's rating, with National Bank Financial and Wall Street Zen both issuing a "strong-buy" rating recently.
• Pan American Silver recently increased its quarterly dividend to $0.12 per share, reflecting a growth from the previous $0.10 and resulting in a 1.2% yield.

Vontobel Holding Ltd. purchased a new position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 88,763 shares of the basic materials company's stock, valued at approximately $2,521,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC purchased a new position in Pan American Silver during the 1st quarter valued at about $222,000. D.A. Davidson & CO. acquired a new stake in shares of Pan American Silver in the first quarter valued at approximately $358,000. Intech Investment Management LLC lifted its stake in Pan American Silver by 189.0% in the 1st quarter. Intech Investment Management LLC now owns 107,952 shares of the basic materials company's stock valued at $2,788,000 after buying an additional 70,593 shares in the last quarter. Triasima Portfolio Management inc. lifted its stake in Pan American Silver by 29.1% in the 2nd quarter. Triasima Portfolio Management inc. now owns 211,010 shares of the basic materials company's stock valued at $5,975,000 after buying an additional 47,500 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Pan American Silver in the second quarter worth $736,000. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on PAAS shares. National Bank Financial upgraded Pan American Silver to a "strong-buy" rating in a research report on Thursday, September 4th. Wall Street Zen upgraded Pan American Silver from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. CIBC lifted their price objective on Pan American Silver from $50.00 to $62.00 and gave the company an "outperformer" rating in a research report on Friday. National Bankshares reaffirmed an "outperform" rating on shares of Pan American Silver in a research report on Friday, September 5th. Finally, Scotiabank decreased their price target on Pan American Silver from $36.50 to $36.00 and set an "outperform" rating on the stock in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.50.

Pan American Silver Trading Down 0.1%

Shares of PAAS stock opened at $38.52 on Friday. The stock has a 50-day simple moving average of $34.85 and a 200 day simple moving average of $29.47. Pan American Silver Corp. has a fifty-two week low of $19.80 and a fifty-two week high of $40.84. The stock has a market capitalization of $16.25 billion, a P/E ratio of 26.56, a P/E/G ratio of 0.61 and a beta of 0.63. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The company had revenue of $811.90 million during the quarter, compared to the consensus estimate of $782.12 million. During the same period in the prior year, the company earned $0.11 EPS. Pan American Silver's revenue was up 18.3% on a year-over-year basis. On average, sell-side analysts expect that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.2%. This is a positive change from Pan American Silver's previous quarterly dividend of $0.10. The ex-dividend date was Monday, August 18th. Pan American Silver's dividend payout ratio (DPR) is presently 33.10%.

About Pan American Silver

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.

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