First Mercantile Trust Co. bought a new position in shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) in the first quarter, HoldingsChannel.com reports. The fund bought 41,067 shares of the basic materials company’s stock, valued at approximately $544,000.
Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Pan American Silver by 25.0% during the third quarter. Dimensional Fund Advisors LP now owns 941,742 shares of the basic materials company’s stock valued at $13,900,000 after acquiring an additional 188,475 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Pan American Silver by 465.8% during the third quarter. JPMorgan Chase & Co. now owns 200,163 shares of the basic materials company’s stock valued at $2,955,000 after acquiring an additional 164,783 shares during the last quarter. Man Group plc acquired a new position in shares of Pan American Silver during the third quarter valued at approximately $646,000. Neuberger Berman Group LLC acquired a new position in shares of Pan American Silver during the third quarter valued at approximately $166,000. Finally, Vanguard Group Inc. raised its holdings in shares of Pan American Silver by 4.0% during the third quarter. Vanguard Group Inc. now owns 3,615,559 shares of the basic materials company’s stock valued at $53,366,000 after acquiring an additional 137,450 shares during the last quarter. 55.92% of the stock is owned by hedge funds and other institutional investors.
PAAS has been the subject of a number of research analyst reports. Deutsche Bank raised Pan American Silver from a “hold” rating to a “buy” rating and reduced their target price for the company from $17.50 to $15.50 in a report on Wednesday, April 10th. Canaccord Genuity reissued a “buy” rating and set a $21.00 target price on shares of Pan American Silver in a report on Friday, February 22nd. TheStreet cut Pan American Silver from a “b-” rating to a “c” rating in a report on Friday, February 22nd. Zacks Investment Research raised Pan American Silver from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. Finally, B. Riley reissued a “neutral” rating and set a $12.50 target price (down previously from $22.00) on shares of Pan American Silver in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $16.97.
PAAS stock opened at $11.37 on Wednesday. The company has a quick ratio of 2.74, a current ratio of 3.83 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 12.92 and a beta of -0.15. Pan American Silver Corp. has a 52-week low of $11.29 and a 52-week high of $18.67.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, May 8th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $232.60 million during the quarter, compared to analysts’ expectations of $240.67 million. Pan American Silver had a positive return on equity of 2.11% and a negative net margin of 0.34%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. As a group, equities research analysts anticipate that Pan American Silver Corp. will post 0.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Tuesday, May 21st will be paid a dividend of $0.035 per share. The ex-dividend date is Monday, May 20th. This represents a $0.14 annualized dividend and a yield of 1.23%. Pan American Silver’s dividend payout ratio (DPR) is 35.90%.
Pan American Silver Profile
Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.
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