Gabelli Funds LLC Grows Stake in Pan American Silver Corp. $PAAS

Gabelli Funds LLC lifted its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 662,100 shares of the basic materials company’s stock after purchasing an additional 27,400 shares during the quarter. Gabelli Funds LLC owned about 0.16% of Pan American Silver worth $36,171,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PAAS. Norges Bank purchased a new position in Pan American Silver during the fourth quarter worth about $303,611,000. FIL Ltd increased its stake in Pan American Silver by 154.7% in the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock worth $378,872,000 after acquiring an additional 4,438,478 shares during the last quarter. Capital International Investors purchased a new stake in shares of Pan American Silver in the 4th quarter valued at about $215,484,000. Bank of America Corp DE raised its holdings in shares of Pan American Silver by 148.3% in the 2nd quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock valued at $95,658,000 after acquiring an additional 2,011,862 shares in the last quarter. Finally, Man Group plc raised its holdings in shares of Pan American Silver by 252.0% in the 2nd quarter. Man Group plc now owns 1,667,132 shares of the basic materials company’s stock valued at $47,347,000 after acquiring an additional 1,193,458 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PAAS. Scotiabank reissued an “outperform” rating on shares of Pan American Silver in a report on Tuesday, July 14th. Bank of America lowered their target price on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. TD Cowen upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and lifted their target price for the company from $67.00 to $72.00 in a research 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 target for the company in a research note on Monday, May 11th. Finally, Weiss Ratings cut shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.43.

Pan American Silver Trading Down 0.4%

Shares of PAAS stock opened at $44.03 on Friday. The business has a 50-day moving average price of $48.07 and a two-hundred day moving average price of $54.17. Pan American Silver Corp. has a 12-month low of $26.76 and a 12-month high of $69.99. The company has a quick ratio of 2.11, a current ratio of 2.84 and a debt-to-equity ratio of 0.11. The firm has a market cap of $18.36 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 3.91 and a beta of 0.72.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The company’s revenue was up 49.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. Equities analysts anticipate that Pan American Silver Corp. will post 4.02 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Pan American Silver’s dividend payout ratio (DPR) is presently 23.15%.

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.