Cadence Wealth Management LLC Makes New $1.21 Million Investment in Pan American Silver Corp. $PAAS

Cadence Wealth Management LLC acquired a new stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 26,922 shares of the basic materials company’s stock, valued at approximately $1,206,000. Pan American Silver makes up 0.5% of Cadence Wealth Management LLC’s investment portfolio, making the stock its 21st largest position.

Several other hedge funds have also bought and sold shares of PAAS. Fifth Third Bancorp boosted its position in shares of Pan American Silver by 1,336.1% in the 1st quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 481 shares in the last quarter. NFJ Investment Group LLC bought a new position in Pan American Silver during the 2nd quarter valued at approximately $25,000. Parallel Advisors LLC increased its position in Pan American Silver by 151.8% during the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after buying an additional 387 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Pan American Silver during the fourth quarter valued at $34,000. Finally, Danske Bank A S purchased a new position in Pan American Silver during the second quarter valued at $30,000. Institutional investors own 55.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Monday, May 11th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pan American Silver in a research report on Thursday, August 13th. Wall Street Zen cut shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Jefferies Financial Group cut their price objective on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $75.00 price objective on shares of Pan American Silver in a research note on Tuesday, April 28th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.43.

Pan American Silver Stock Up 2.3%

PAAS stock opened at $53.11 on Friday. Pan American Silver Corp. has a 1-year low of $31.60 and a 1-year high of $69.99. The business has a fifty day moving average price of $46.31 and a 200-day moving average price of $52.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. The stock has a market capitalization of $22.15 billion, a P/E ratio of 16.05, a P/E/G ratio of 4.93 and a beta of 0.73.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.11). Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company earned $0.43 earnings per share. The company’s revenue for the quarter was up 38.4% compared to the same quarter last year. Equities analysts forecast that Pan American Silver Corp. will post 4.06 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.184 per share. The ex-dividend date of this dividend is Monday, August 24th. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a dividend yield of 1.4%. Pan American Silver’s dividend payout ratio is presently 21.75%.

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.