Man Group plc lifted its stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 381.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 947,560 shares of the basic materials company's stock after acquiring an additional 750,858 shares during the period. Man Group plc owned 0.26% of Pan American Silver worth $19,160,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Occudo Quantitative Strategies LP bought a new position in Pan American Silver during the fourth quarter valued at about $208,000. Merewether Investment Management LP acquired a new stake in Pan American Silver in the 4th quarter valued at about $3,550,000. Janus Henderson Group PLC boosted its position in shares of Pan American Silver by 2.5% during the 4th quarter. Janus Henderson Group PLC now owns 91,688 shares of the basic materials company's stock valued at $1,861,000 after purchasing an additional 2,246 shares in the last quarter. Graham Capital Management L.P. acquired a new position in shares of Pan American Silver in the 4th quarter worth approximately $1,199,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Pan American Silver by 17.0% in the 4th quarter. BNP Paribas Financial Markets now owns 55,488 shares of the basic materials company's stock worth $1,122,000 after purchasing an additional 8,081 shares in the last quarter. 55.43% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on PAAS. CIBC raised their target price on shares of Pan American Silver from $38.00 to $42.00 and gave the stock an "outperformer" rating in a report on Thursday, May 8th. BMO Capital Markets initiated coverage on Pan American Silver in a research note on Wednesday, April 16th. They set a "market perform" rating for the company. Wall Street Zen upgraded Pan American Silver from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 15th. Scotiabank reaffirmed a "sector perform" rating on shares of Pan American Silver in a report on Monday, April 14th. Finally, TD Securities dropped their price target on Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a research note on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $30.60.
Read Our Latest Stock Analysis on PAAS
Pan American Silver Stock Down 0.9%
Shares of PAAS traded down $0.23 during mid-day trading on Thursday, reaching $23.88. The company's stock had a trading volume of 1,631,692 shares, compared to its average volume of 3,784,104. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 74.61 and a beta of 0.75. The business has a fifty day moving average of $25.05 and a 200 day moving average of $23.50. The company has a quick ratio of 0.96, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. Pan American Silver Corp. has a 1 year low of $17.86 and a 1 year high of $28.60.
Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $696.62 million. During the same period in the previous year, the firm earned $0.01 earnings per share. Pan American Silver's quarterly revenue was up 28.6% on a year-over-year basis. As a group, analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.
Pan American Silver Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 20th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, May 20th. Pan American Silver's dividend payout ratio (DPR) is 45.98%.
About Pan American Silver
(
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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