Weiss Asset Management LP Has $18.71 Million Holdings in Pan American Silver Corp. $PAAS

Key Points

• Weiss Asset Management increased its stake in Pan American Silver by 497.7% in the first quarter, ending with 342,503 shares valued at about $18.7 million.
• Pan American Silver posted better-than-expected quarterly results, with earnings of $1.09 per share on revenue of $1.33 billion, both topping analyst forecasts. Revenue also jumped 49.3% year over year.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $70.43, though some firms have recently lowered targets or ratings.

Weiss Asset Management LP raised its holdings in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 497.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 342,503 shares of the basic materials company's stock after buying an additional 285,203 shares during the period. Weiss Asset Management LP owned about 0.08% of Pan American Silver worth $18,711,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PAAS. Themes Management Co LLC boosted its stake in shares of Pan American Silver by 86.4% during the 1st quarter. Themes Management Co LLC now owns 12,375 shares of the basic materials company's stock worth $676,000 after acquiring an additional 5,736 shares during the period. Entropy Technologies LP bought a new stake in Pan American Silver in the 1st quarter valued at $9,282,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Pan American Silver in the 1st quarter valued at $6,182,000. Renaissance Technologies LLC acquired a new stake in Pan American Silver during the 1st quarter valued at $71,141,000. Finally, Gabelli Funds LLC lifted its holdings in Pan American Silver by 4.3% during the 1st quarter. Gabelli Funds LLC now owns 662,100 shares of the basic materials company's stock valued at $36,171,000 after purchasing an additional 27,400 shares during the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

Pan American Silver Stock Performance

PAAS opened at $44.03 on Friday. The business has a fifty day simple moving average of $48.07 and a 200 day simple moving average of $54.17. The company has a market capitalization of $18.36 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 3.89 and a beta of 0.72. Pan American Silver Corp. has a 1 year low of $26.76 and a 1 year high of $69.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.84 and a quick ratio of 2.11.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.03. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The company's revenue for the quarter was up 49.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. Research analysts expect that Pan American Silver Corp. will post 4.02 EPS for the current year.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were paid a $0.18 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.6%. Pan American Silver's dividend payout ratio is 23.15%.

Analysts Set New Price Targets

A number of research firms have commented on PAAS. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $75.00 price objective on shares of Pan American Silver in a research report on Tuesday, April 28th. Zacks Research cut shares of Pan American Silver from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. Jefferies Financial Group cut their target price on shares of Pan American Silver from $54.00 to $53.00 and set a "hold" rating for the company in a research note on Monday, July 6th. Bank of America reduced their target price on shares of Pan American Silver from $77.00 to $69.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Finally, Scotiabank reiterated an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Pan American Silver has a consensus rating of "Moderate Buy" and an average price target of $70.43.

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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