Legal & General Group Plc Makes New Investment in Pan American Silver Corp. $PAAS

Legal & General Group Plc purchased a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 2,383,228 shares of the basic materials company’s stock, valued at approximately $106,698,000.

A number of other hedge funds have also recently modified their holdings of the business. RFG Advisory LLC increased its stake in shares of Pan American Silver by 2.5% in the 1st quarter. RFG Advisory LLC now owns 7,731 shares of the basic materials company’s stock worth $422,000 after purchasing an additional 191 shares in the last quarter. Grand Central Investment Group grew its holdings in Pan American Silver by 0.5% during the first quarter. Grand Central Investment Group now owns 44,801 shares of the basic materials company’s stock valued at $2,447,000 after purchasing an additional 211 shares during the period. Metis Global Partners LLC increased its position in Pan American Silver by 1.5% in the fourth quarter. Metis Global Partners LLC now owns 16,646 shares of the basic materials company’s stock worth $863,000 after buying an additional 239 shares in the last quarter. North Star Investment Management Corp. increased its position in Pan American Silver by 7.8% in the first quarter. North Star Investment Management Corp. now owns 3,451 shares of the basic materials company’s stock worth $189,000 after buying an additional 251 shares in the last quarter. Finally, Ieq Capital LLC raised its stake in shares of Pan American Silver by 2.3% in the fourth quarter. Ieq Capital LLC now owns 11,329 shares of the basic materials company’s stock worth $587,000 after buying an additional 259 shares during the period. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Up 4.5%

Shares of PAAS opened at $54.97 on Friday. The business’s 50 day moving average is $46.57 and its 200 day moving average is $52.70. The company has a current ratio of 2.94, a quick ratio of 2.23 and a debt-to-equity ratio of 0.11. Pan American Silver Corp. has a 12-month low of $32.46 and a 12-month high of $69.99. The company has a market capitalization of $22.93 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 4.86 and a beta of 0.73.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.11). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.16 billion. Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The company’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 earnings per share. Research analysts expect that Pan American Silver Corp. will post 4.06 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be given a dividend of $0.184 per share. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, August 24th. Pan American Silver’s dividend payout ratio (DPR) is currently 22.36%.

Analysts Set New Price Targets

PAAS has been the topic of a number of analyst reports. TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Monday, May 11th. Zacks Research raised shares of Pan American Silver from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. TD Cowen raised shares of 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 research note on Tuesday, May 12th. Jefferies Financial Group decreased their price objective on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. Finally, Wall Street Zen cut shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

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.