TD Asset Management Inc Raises Position in Pan American Silver Corp. $PAAS

TD Asset Management Inc grew its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 13.9% in the third quarter, HoldingsChannel reports. The fund owned 2,251,564 shares of the basic materials company’s stock after purchasing an additional 274,591 shares during the quarter. TD Asset Management Inc’s holdings in Pan American Silver were worth $87,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Pan American Silver by 21.2% during the third quarter. Vanguard Group Inc. now owns 17,191,611 shares of the basic materials company’s stock valued at $666,192,000 after purchasing an additional 3,006,055 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Pan American Silver by 15.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,425,601 shares of the basic materials company’s stock valued at $296,087,000 after buying an additional 1,396,360 shares in the last quarter. Invesco Ltd. grew its stake in shares of Pan American Silver by 49.5% during the 2nd quarter. Invesco Ltd. now owns 9,016,262 shares of the basic materials company’s stock valued at $256,062,000 after acquiring an additional 2,986,434 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Pan American Silver by 5,674.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,141,108 shares of the basic materials company’s stock worth $174,406,000 after acquiring an additional 6,034,755 shares in the last quarter. Finally, Norges Bank purchased a new stake in Pan American Silver in the 2nd quarter worth approximately $155,281,000. 55.43% of the stock is owned by institutional investors.

Pan American Silver Stock Down 1.7%

PAAS opened at $64.26 on Thursday. The company has a market capitalization of $27.11 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 0.62 and a beta of 0.66. The firm has a 50-day simple moving average of $56.97 and a two-hundred day simple moving average of $44.57. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.11. Pan American Silver Corp. has a 52 week low of $20.55 and a 52 week high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.21. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.11 billion. Pan American Silver had a return on equity of 16.38% and a net margin of 27.07%.The firm’s revenue for the quarter was up 44.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. Analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. This is an increase from Pan American Silver’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, March 2nd. Pan American Silver’s dividend payout ratio (DPR) is 22.40%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PAAS shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. Bank of America lifted their target price on shares of Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Jefferies Financial Group cut their price target on Pan American Silver from $58.00 to $54.00 and set a “hold” rating for the company in a research note on Wednesday, January 21st. Wall Street Zen raised Pan American Silver from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Canadian Imperial Bank of Commerce set a $88.00 price objective on Pan American Silver and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

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.