PCJ Investment Counsel Ltd. Raises Stock Position in Pan American Silver Corp. $PAAS

PCJ Investment Counsel Ltd. raised its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 385.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 186,568 shares of the basic materials company’s stock after purchasing an additional 148,098 shares during the quarter. Pan American Silver comprises 2.0% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 14th biggest position. PCJ Investment Counsel Ltd.’s holdings in Pan American Silver were worth $7,228,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of Pan American Silver by 151.8% during the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after buying an additional 387 shares during the period. Rothschild Investment LLC purchased a new position in Pan American Silver in the third quarter worth approximately $36,000. City State Bank grew its position in Pan American Silver by 74.4% in the third quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 435 shares during the period. EverSource Wealth Advisors LLC increased its stake in Pan American Silver by 93.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 497 shares during the last quarter. Finally, Assetmark Inc. increased its stake in Pan American Silver by 3,111.4% during the third quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 1,089 shares during the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PAAS shares. Scotiabank upped their price target on Pan American Silver from $47.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Jefferies Financial Group reduced their price objective on shares of Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Wednesday, January 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce set a $88.00 target price on shares of Pan American Silver and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pan American Silver currently has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Pan American Silver Stock Up 1.6%

NYSE:PAAS opened at $61.50 on Wednesday. Pan American Silver Corp. has a 52 week low of $20.55 and a 52 week high of $69.99. The stock’s fifty day moving average is $58.79 and its two-hundred day moving average is $46.65. The stock has a market capitalization of $25.94 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 0.56 and a beta of 0.62. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.21. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Pan American Silver had a return on equity of 16.38% and a net margin of 27.07%.The company’s revenue was up 44.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. Research analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.72 annualized dividend and a yield of 1.2%. This is an increase from Pan American Silver’s previous quarterly dividend of $0.14. Pan American Silver’s dividend payout ratio is presently 28.80%.

Pan American Silver Company Profile

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.