Merewether Investment Management LP Takes Position in Pan American Silver Corp. (NYSE:PAAS)

Merewether Investment Management LP purchased a new position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 175,575 shares of the basic materials company's stock, valued at approximately $3,550,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC raised its stake in Pan American Silver by 6.0% in the 4th quarter. Signaturefd LLC now owns 7,924 shares of the basic materials company's stock valued at $160,000 after acquiring an additional 451 shares during the period. US Bancorp DE raised its position in shares of Pan American Silver by 9.6% in the fourth quarter. US Bancorp DE now owns 6,139 shares of the basic materials company's stock valued at $124,000 after purchasing an additional 539 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Pan American Silver by 23.4% during the 4th quarter. Jones Financial Companies Lllp now owns 2,892 shares of the basic materials company's stock valued at $58,000 after buying an additional 549 shares in the last quarter. Principal Securities Inc. grew its stake in Pan American Silver by 12.5% in the 4th quarter. Principal Securities Inc. now owns 5,977 shares of the basic materials company's stock valued at $121,000 after buying an additional 664 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in Pan American Silver by 2.4% during the 4th quarter. Evergreen Capital Management LLC now owns 30,203 shares of the basic materials company's stock valued at $611,000 after acquiring an additional 715 shares during the period. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Stock Down 16.0%

PAAS stock opened at $22.87 on Tuesday. The company's 50 day moving average is $25.27 and its 200 day moving average is $23.54. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 71.46 and a beta of 0.75. The company has a current ratio of 2.50, a quick ratio of 0.96 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 issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.23. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The firm had revenue of $773.20 million for the quarter, compared to analyst estimates of $696.62 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The business's revenue for the quarter was up 28.6% compared to the same quarter last year. Sell-side analysts predict that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.75%. Pan American Silver's payout ratio is 45.98%.

Wall Street Analyst Weigh In

PAAS has been the subject of several recent research reports. Scotiabank reiterated a "sector perform" rating on shares of Pan American Silver in a research report on Monday, April 14th. National Bankshares reaffirmed an "outperform" rating on shares of Pan American Silver in a report on Wednesday, April 2nd. BMO Capital Markets began coverage on shares of Pan American Silver in a report on Wednesday, April 16th. They issued a "market perform" rating on the stock. TD Securities cut shares of Pan American Silver from a "buy" rating to a "hold" rating and reduced their price objective for the company from $28.00 to $27.00 in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada upped their target price on shares of Pan American Silver from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Pan American Silver presently has an average rating of "Hold" and a consensus target price of $29.67.

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.

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