Ieq Capital LLC Purchases New Holdings in Pan American Silver Corp. $PAAS

Ieq Capital LLC acquired a new position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 9,736 shares of the basic materials company’s stock, valued at approximately $436,000.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Pan American Silver by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company’s stock worth $905,513,000 after acquiring an additional 274,168 shares during the period. Swiss Life Asset Management Ltd raised its stake in Pan American Silver by 46.9% in the 4th quarter. Swiss Life Asset Management Ltd now owns 58,827 shares of the basic materials company’s stock valued at $3,051,000 after acquiring an additional 18,791 shares during the period. Royal Palms Capital LLC purchased a new stake in Pan American Silver during the fourth quarter valued at about $2,170,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Pan American Silver during the fourth quarter valued at about $1,341,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Pan American Silver during the second quarter worth about $2,347,000. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Securities raised shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, May 11th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pan American Silver in a report on Thursday, August 13th. Bank of America reduced their price target on Pan American Silver from $77.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Jefferies Financial Group decreased their price objective on Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. Finally, TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $72.00 in a report on Tuesday, May 12th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.43.

Pan American Silver Stock Down 3.4%

PAAS stock opened at $53.00 on Friday. The company has a current ratio of 2.94, a quick ratio of 2.23 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $46.65 and its 200 day moving average is $52.70. The stock has a market cap of $22.10 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 5.12 and a beta of 0.73. Pan American Silver Corp. has a 1-year low of $32.95 and a 1-year high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.11). Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was up 38.4% compared to the same quarter last year. Sell-side analysts predict that Pan American Silver Corp. will post 4.02 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be given a dividend of $0.184 per share. This is an increase from Pan American Silver’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, August 24th. This represents a $0.74 annualized dividend and a dividend yield of 1.4%. Pan American Silver’s dividend payout ratio is 22.36%.

About Pan American Silver

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.