Manatuck Hill Partners LLC acquired a new position in shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 25,000 shares of the basic materials company’s stock, valued at approximately $448,000.
Several other institutional investors have also recently added to or reduced their stakes in PAAS. Wells Fargo & Company MN increased its stake in Pan American Silver by 90.3% in the 1st quarter. Wells Fargo & Company MN now owns 853,097 shares of the basic materials company’s stock worth $13,778,000 after acquiring an additional 404,749 shares during the last quarter. Trexquant Investment LP bought a new position in Pan American Silver in the 1st quarter worth about $1,033,000. American Century Companies Inc. increased its stake in Pan American Silver by 19.4% in the 1st quarter. American Century Companies Inc. now owns 514,800 shares of the basic materials company’s stock worth $8,314,000 after acquiring an additional 83,800 shares during the last quarter. Swiss National Bank increased its stake in Pan American Silver by 6.1% in the 1st quarter. Swiss National Bank now owns 275,500 shares of the basic materials company’s stock worth $4,436,000 after acquiring an additional 15,900 shares during the last quarter. Finally, BP Capital Fund Advisors LLC bought a new position in Pan American Silver in the 1st quarter worth about $4,173,000. 48.20% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on PAAS shares. BidaskClub upgraded Pan American Silver from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. Canaccord Genuity reiterated a “buy” rating and set a $20.00 price objective on shares of Pan American Silver in a research report on Friday, July 13th. Zacks Investment Research upgraded Pan American Silver from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Scotiabank lowered Pan American Silver from an “outperform” rating to a “sector perform” rating and set a $18.00 price objective on the stock. in a research report on Monday, July 16th. Finally, ValuEngine cut Pan American Silver from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $20.55.
Shares of PAAS stock opened at $14.94 on Friday. The stock has a market cap of $2.26 billion, a P/E ratio of 29.29, a P/E/G ratio of 5.48 and a beta of 0.11. Pan American Silver Corp. has a 1-year low of $13.99 and a 1-year high of $19.15.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, August 8th. The basic materials company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.07. The company had revenue of $216.46 million during the quarter, compared to analysts’ expectations of $213.63 million. Pan American Silver had a return on equity of 7.06% and a net margin of 17.95%. equities analysts predict that Pan American Silver Corp. will post 0.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Monday, August 20th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.94%. The ex-dividend date was Friday, August 17th. Pan American Silver’s dividend payout ratio is presently 27.45%.
About Pan American Silver
Pan American Silver Corp., together with its subsidiaries, engages in exploration, extraction, processing, refining, and reclamation of silver mines. The company owns and operates silver mines located in Peru, Mexico, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper. The company holds interests in the La Colorada, Dolores, Alamo Dorado, Huaron, Morococha, Manantial Espejo, and San Vicente mines.
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