Wells Fargo & Company MN reduced its stake in shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) by 23.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 684,783 shares of the basic materials company’s stock after selling 204,114 shares during the quarter. Wells Fargo & Company MN owned 0.33% of Pan American Silver worth $8,841,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. NumerixS Investment Technologies Inc purchased a new stake in Pan American Silver during the 1st quarter worth approximately $106,000. Cetera Advisor Networks LLC purchased a new stake in Pan American Silver during the 1st quarter worth approximately $135,000. Campbell & CO Investment Adviser LLC purchased a new stake in Pan American Silver during the 1st quarter worth approximately $136,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Pan American Silver by 19.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,300 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 2,039 shares during the last quarter. Finally, Comerica Bank purchased a new stake in Pan American Silver during the 2nd quarter worth approximately $166,000. Institutional investors and hedge funds own 51.29% of the company’s stock.
PAAS has been the topic of several analyst reports. Royal Bank of Canada upgraded Pan American Silver from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $17.00 to $23.00 in a report on Thursday, September 5th. TD Securities lifted their price objective on Pan American Silver from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, August 9th. National Bank Financial upgraded Pan American Silver from a “sector perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a report on Friday, August 30th. Zacks Investment Research upgraded Pan American Silver from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday, August 29th. Finally, BidaskClub downgraded Pan American Silver from a “buy” rating to a “hold” rating in a report on Saturday, September 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Pan American Silver presently has an average rating of “Buy” and an average price target of $21.18.
Shares of PAAS traded down $0.25 during mid-day trading on Friday, hitting $16.53. The stock had a trading volume of 79,684 shares, compared to its average volume of 3,363,495. The company has a market cap of $3.53 billion, a PE ratio of 42.08, a PEG ratio of 10.07 and a beta of 0.08. The company’s fifty day simple moving average is $17.11 and its two-hundred day simple moving average is $13.73. The company has a quick ratio of 2.98, a current ratio of 4.08 and a debt-to-equity ratio of 0.15. Pan American Silver Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $19.48.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, August 7th. The basic materials company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $282.90 million during the quarter, compared to analyst estimates of $320.98 million. Pan American Silver had a positive return on equity of 0.56% and a negative net margin of 2.39%. The business’s revenue was up 30.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. Equities analysts expect that Pan American Silver Corp. will post 0.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a $0.062 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.25 annualized dividend and a dividend yield of 1.50%. Pan American Silver’s payout ratio is 35.90%.
Pan American Silver Company 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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