DAVENPORT & Co LLC Boosts Stock Holdings in Pan American Silver Corp. $PAAS

DAVENPORT & Co LLC raised its holdings in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,478 shares of the basic materials company’s stock after purchasing an additional 1,417 shares during the period. DAVENPORT & Co LLC’s holdings in Pan American Silver were worth $2,172,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PAAS. Wealth Enhancement Advisory Services LLC increased its stake in shares of Pan American Silver by 143.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,163 shares of the basic materials company’s stock worth $630,000 after purchasing an additional 18,343 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Pan American Silver in the first quarter worth about $199,000. Farther Finance Advisors LLC increased its stake in shares of Pan American Silver by 39.8% in the first quarter. Farther Finance Advisors LLC now owns 2,720 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 775 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Pan American Silver by 187.6% in the first quarter. SG Americas Securities LLC now owns 376,448 shares of the basic materials company’s stock worth $9,724,000 after purchasing an additional 245,575 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. purchased a new position in Pan American Silver during the first quarter valued at approximately $232,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Price Performance

PAAS stock opened at $38.55 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.05 and a quick ratio of 2.11. Pan American Silver Corp. has a one year low of $19.80 and a one year high of $40.84. The stock has a market cap of $16.27 billion, a PE ratio of 26.59, a P/E/G ratio of 0.63 and a beta of 0.63. The firm has a 50 day simple moving average of $34.62 and a two-hundred day simple moving average of $29.36.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The business had revenue of $811.90 million during the quarter, compared to analysts’ expectations of $782.12 million. During the same quarter in the previous year, the company earned $0.11 EPS. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, analysts predict that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a yield of 1.2%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.10. Pan American Silver’s dividend payout ratio is presently 33.10%.

Analyst Ratings Changes

Several equities analysts recently commented on PAAS shares. Scotiabank reduced their price objective on shares of Pan American Silver from $36.50 to $36.00 and set an “outperform” rating for the company in a research note on Friday, September 5th. National Bank Financial raised shares of Pan American Silver to a “strong-buy” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Pan American Silver in a research note on Saturday, September 27th. CIBC reaffirmed an “outperform” rating on shares of Pan American Silver in a research note on Tuesday, July 15th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Pan American Silver in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Pan American Silver presently has an average rating of “Moderate Buy” and an average price target of $34.50.

Pan American Silver Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.