Gabelli Funds LLC increased its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 451,100 shares of the basic materials company's stock after acquiring an additional 13,000 shares during the period. Gabelli Funds LLC owned about 0.12% of Pan American Silver worth $9,121,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Pan American Silver by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 14,008,185 shares of the basic materials company's stock valued at $283,385,000 after purchasing an additional 221,561 shares during the period. FIL Ltd grew its holdings in shares of Pan American Silver by 4.6% in the fourth quarter. FIL Ltd now owns 13,388,644 shares of the basic materials company's stock worth $270,848,000 after acquiring an additional 584,017 shares during the period. Norges Bank bought a new position in Pan American Silver in the fourth quarter valued at about $91,916,000. Geode Capital Management LLC grew its stake in shares of Pan American Silver by 32.2% during the 4th quarter. Geode Capital Management LLC now owns 2,027,461 shares of the basic materials company's stock valued at $40,776,000 after purchasing an additional 494,133 shares during the period. Finally, Ingalls & Snyder LLC increased its position in shares of Pan American Silver by 5.4% during the 4th quarter. Ingalls & Snyder LLC now owns 1,726,999 shares of the basic materials company's stock valued at $34,920,000 after purchasing an additional 89,011 shares during the last quarter. 55.43% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on PAAS. StockNews.com cut shares of Pan American Silver from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. TD Securities downgraded Pan American Silver from a "buy" rating to a "hold" rating and lowered their target price for the company from $28.00 to $27.00 in a research report on Tuesday, March 11th. Scotiabank reaffirmed a "sector perform" rating on shares of Pan American Silver in a research note on Monday, April 14th. Royal Bank of Canada boosted their price objective on Pan American Silver from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Finally, National Bankshares reiterated an "outperform" rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $28.50.
Read Our Latest Stock Analysis on PAAS
Pan American Silver Price Performance
Shares of PAAS traded down $0.04 during mid-day trading on Tuesday, hitting $26.93. 1,189,467 shares of the stock were exchanged, compared to its average volume of 3,539,367. The firm has a 50-day moving average of $25.09 and a two-hundred day moving average of $23.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.50. The company has a market cap of $9.75 billion, a PE ratio of 84.01 and a beta of 1.06. Pan American Silver Corp. has a 52-week low of $17.86 and a 52-week high of $28.60.
Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. The company had revenue of $815.10 million for the quarter, compared to analyst estimates of $805.20 million. On average, equities analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current year.
Pan American Silver Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.49%. Pan American Silver's dividend payout ratio (DPR) is 125.00%.
Pan American Silver Profile
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Free Report)
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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