Van ECK Associates Corp Sells 5,559,160 Shares of Pan American Silver Corp. $PAAS

Van ECK Associates Corp lowered its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 12.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,582,900 shares of the basic materials company’s stock after selling 5,559,160 shares during the period. Pan American Silver comprises about 1.7% of Van ECK Associates Corp’s portfolio, making the stock its 11th biggest position. Van ECK Associates Corp owned about 0.09% of Pan American Silver worth $2,050,801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Royal London Asset Management Ltd. increased its stake in shares of Pan American Silver by 4.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 20,522 shares of the basic materials company’s stock valued at $1,063,000 after buying an additional 812 shares during the period. Ieq Capital LLC boosted its position in shares of Pan American Silver by 2.3% during the 4th quarter. Ieq Capital LLC now owns 11,329 shares of the basic materials company’s stock valued at $587,000 after purchasing an additional 259 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Pan American Silver during the 4th quarter worth approximately $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Pan American Silver in the fourth quarter worth approximately $58,000. Finally, United Capital Management of KS Inc. bought a new position in Pan American Silver during the 4th quarter valued at $2,105,000. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Up 3.6%

PAAS stock opened at $48.22 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84. The company has a market capitalization of $20.32 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.37 and a beta of 0.67. Pan American Silver Corp. has a fifty-two week low of $26.76 and a fifty-two week high of $69.99. The stock has a fifty day moving average of $55.03 and a 200-day moving average of $54.82.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 49.3% compared to the same quarter last year. As a group, equities research analysts predict that Pan American Silver Corp. will post 4.65 earnings per share for the current year.

Pan American Silver Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, May 19th. Pan American Silver’s payout ratio is presently 23.15%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PAAS. TD Cowen raised shares of Pan American Silver from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $72.00 in a report on Tuesday, May 12th. Wall Street Zen downgraded shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a report on Tuesday, May 12th. TD Securities raised shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Monday, May 11th. Finally, Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Pan American Silver 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.