Wellington Management Group LLP Reduces Position in Pan American Silver Corp. $PAAS

Key Points

• Wellington Management Group LLP reduced its position in Pan American Silver Corp. (NYSE: PAAS) by 30.1%, now owning 117,282 shares valued at approximately $3.03 million.
• Several other institutional investors have increased their stakes in Pan American Silver, including Vanguard Group and TD Asset Management, reflecting a growing interest in the company.
• Pan American Silver recently increased its quarterly dividend from $0.10 to $0.12 per share, representing a 1.4% dividend yield.

Wellington Management Group LLP trimmed its holdings in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 30.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 117,282 shares of the basic materials company's stock after selling 50,565 shares during the period. Wellington Management Group LLP's holdings in Pan American Silver were worth $3,029,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Korea Investment CORP raised its stake in Pan American Silver by 0.9% during the 1st quarter. Korea Investment CORP now owns 199,816 shares of the basic materials company's stock valued at $5,160,000 after acquiring an additional 1,734 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Pan American Silver during the first quarter worth approximately $161,000. Northwest & Ethical Investments L.P. lifted its holdings in shares of Pan American Silver by 53.4% during the first quarter. Northwest & Ethical Investments L.P. now owns 108,059 shares of the basic materials company's stock worth $2,793,000 after purchasing an additional 37,608 shares during the period. Raymond James Financial Inc. grew its position in Pan American Silver by 5.4% in the 1st quarter. Raymond James Financial Inc. now owns 356,239 shares of the basic materials company's stock valued at $9,202,000 after buying an additional 18,265 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Pan American Silver by 11.7% during the first quarter. American Century Companies Inc. now owns 1,556,480 shares of the basic materials company's stock worth $40,204,000 after acquiring an additional 163,627 shares during the period. Hedge funds and other institutional investors own 55.43% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PAAS. TD Securities reduced their price objective on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a research note on Thursday, May 22nd. CIBC reissued an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 15th. Wall Street Zen cut Pan American Silver from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Finally, Zacks Research cut Pan American Silver from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Pan American Silver currently has a consensus rating of "Hold" and a consensus price target of $31.40.

Pan American Silver Price Performance

Shares of Pan American Silver stock traded down $0.38 during trading on Wednesday, hitting $33.92. 4,249,777 shares of the company were exchanged, compared to its average volume of 4,556,494. Pan American Silver Corp. has a fifty-two week low of $18.50 and a fifty-two week high of $35.00. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $30.14 and a 200 day moving average price of $27.10. The stock has a market capitalization of $12.27 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of 0.46 and a beta of 0.65.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The company had revenue of $811.90 million during the quarter, compared to analysts' expectations of $782.12 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The business's revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities 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 company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.12 dividend. This is an increase from Pan American Silver's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. Pan American Silver's dividend payout ratio is 33.10%.

Pan American Silver 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.