Toronto Dominion Bank Sells 5,591 Shares of Pan American Silver Corp. (NYSE:PAAS)

Toronto Dominion Bank reduced its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 4.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 119,716 shares of the basic materials company’s stock after selling 5,591 shares during the period. Toronto Dominion Bank’s holdings in Pan American Silver were worth $1,805,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PAAS. Vanguard Group Inc. lifted its position in shares of Pan American Silver by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,888,593 shares of the basic materials company’s stock worth $186,627,000 after purchasing an additional 183,681 shares during the period. SG Americas Securities LLC bought a new stake in Pan American Silver during the 4th quarter valued at $751,000. Raymond James & Associates increased its holdings in shares of Pan American Silver by 1.4% in the 4th quarter. Raymond James & Associates now owns 336,253 shares of the basic materials company’s stock valued at $5,491,000 after acquiring an additional 4,673 shares during the period. DAVENPORT & Co LLC raised its position in shares of Pan American Silver by 24.0% in the 4th quarter. DAVENPORT & Co LLC now owns 36,877 shares of the basic materials company’s stock worth $602,000 after acquiring an additional 7,146 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Pan American Silver during the 4th quarter worth $901,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Trading Up 0.3 %

NYSE:PAAS opened at $21.47 on Friday. The company has a current ratio of 2.11, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $21.33 and a 200-day simple moving average of $17.61. Pan American Silver Corp. has a 12 month low of $12.16 and a 12 month high of $24.27. The company has a market capitalization of $7.79 billion, a P/E ratio of -46.67 and a beta of 1.31.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The company had revenue of $601.40 million during the quarter, compared to analysts’ expectations of $592.58 million. Pan American Silver had a positive return on equity of 0.13% and a negative net margin of 6.68%. The firm’s revenue was up 54.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. On average, equities research analysts anticipate that Pan American Silver Corp. will post 0.66 earnings per share for the current year.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Tuesday, May 21st were issued a $0.10 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.86%. Pan American Silver’s dividend payout ratio (DPR) is presently -86.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group boosted their target price on shares of Pan American Silver from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Scotiabank increased their target price on shares of Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 16th. BMO Capital Markets lifted their price target on shares of Pan American Silver from $22.00 to $24.00 in a report on Tuesday, May 21st. StockNews.com upgraded Pan American Silver from a “sell” rating to a “hold” rating in a report on Saturday, May 11th. Finally, CIBC boosted their target price on Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pan American Silver has a consensus rating of “Moderate Buy” and an average target price of $24.42.

Pan American Silver Company 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.