Gabelli Funds LLC Raises Position in Pan American Silver Corp. $PAAS

Gabelli Funds LLC boosted its holdings in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 4.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 662,100 shares of the basic materials company’s stock after purchasing an additional 27,400 shares during the period. Gabelli Funds LLC’s holdings in Pan American Silver were worth $36,171,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PAAS. Parallel Advisors LLC grew its stake in shares of Pan American Silver by 151.8% during the third 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 during the last quarter. Fifth Third Bancorp increased its holdings in shares of Pan American Silver by 1,336.1% in the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock worth $28,000 after buying an additional 481 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Pan American Silver in the 4th quarter valued at about $34,000. Laurel Wealth Advisors LLC bought a new stake in shares of Pan American Silver in the 4th quarter valued at about $41,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Pan American Silver by 173.3% in the 4th quarter. Golden State Wealth Management LLC now owns 820 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 520 shares during the last quarter. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PAAS shares. TD Securities upgraded Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Monday, May 11th. Scotiabank reiterated an “outperform” rating on shares of Pan American Silver in a research report on Tuesday, July 14th. Jefferies Financial Group lowered their price objective on Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, July 6th. TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and increased their price objective for the company from $67.00 to $72.00 in a research note on Tuesday, May 12th. Finally, Wall Street Zen cut shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.43.

Pan American Silver Price Performance

PAAS stock opened at $44.03 on Friday. The stock has a market capitalization of $18.36 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 3.91 and a beta of 0.72. The firm’s 50-day moving average price is $48.07 and its two-hundred day moving average price is $54.17. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. Pan American Silver Corp. has a 12-month low of $26.76 and a 12-month high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its 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. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.25 billion. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. Pan American Silver’s revenue for the quarter was up 49.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. As a group, equities analysts predict that Pan American Silver Corp. will post 4.02 earnings per share for the current year.

Pan American Silver Announces Dividend

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

About Pan American Silver

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.