Maverick Capital Ltd. Makes New Investment in Pan American Silver Corp. $PAAS

Maverick Capital Ltd. bought a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,915 shares of the basic materials company’s stock, valued at approximately $1,801,000.

Several other hedge funds have also modified their holdings of PAAS. Norges Bank purchased a new stake in shares of Pan American Silver in the fourth quarter valued at approximately $303,611,000. FIL Ltd boosted its position in shares of Pan American Silver by 154.7% during the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock worth $378,872,000 after purchasing an additional 4,438,478 shares in the last quarter. Capital International Investors purchased a new stake in shares of Pan American Silver during the 4th quarter worth $215,484,000. Bank of America Corp DE grew its stake in shares of Pan American Silver by 148.3% during the 2nd quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock worth $95,658,000 after purchasing an additional 2,011,862 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Pan American Silver during the 1st quarter worth $71,141,000. 55.43% of the stock is owned by institutional investors and hedge funds.

Pan American Silver Price Performance

Shares of NYSE:PAAS opened at $44.12 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84. The business’s fifty day moving average price is $47.85 and its two-hundred day moving average price is $54.10. The stock has a market cap of $18.40 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 3.90 and a beta of 0.72. Pan American Silver Corp. has a one year low of $26.76 and a one year high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 49.3% compared to the same quarter last year. On average, analysts forecast that Pan American Silver Corp. will post 4.02 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.6%. Pan American Silver’s payout ratio is 23.15%.

Wall Street Analyst Weigh In

Several analysts recently commented on PAAS shares. TD Cowen upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and raised their price objective for the company from $67.00 to $72.00 in a research note on Tuesday, May 12th. TD Securities raised shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Monday, May 11th. Wall Street Zen downgraded shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Jefferies Financial Group decreased their price target on Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of Pan American Silver in a research note on Tuesday, April 28th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pan American Silver has a consensus rating of “Moderate Buy” and a consensus price target 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.