International Assets Investment Management LLC Takes Position in Pan American Silver Corp. (NYSE:PAAS)

International Assets Investment Management LLC bought a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 79,496 shares of the basic materials company’s stock, valued at approximately $1,659,000.

Several other hedge funds also recently added to or reduced their stakes in PAAS. Eastern Bank purchased a new stake in shares of Pan American Silver during the third quarter worth about $28,000. U S Global Investors Inc. grew its position in Pan American Silver by 66.7% during the 3rd quarter. U S Global Investors Inc. now owns 50,000 shares of the basic materials company’s stock worth $1,044,000 after purchasing an additional 20,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Pan American Silver by 8.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 439,700 shares of the basic materials company’s stock worth $9,177,000 after purchasing an additional 35,400 shares during the last quarter. Raymond James & Associates increased its stake in Pan American Silver by 10.4% during the 3rd quarter. Raymond James & Associates now owns 249,300 shares of the basic materials company’s stock valued at $5,203,000 after purchasing an additional 23,543 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its holdings in shares of Pan American Silver by 33.4% in the third quarter. Stratos Wealth Advisors LLC now owns 159,268 shares of the basic materials company’s stock worth $3,324,000 after buying an additional 39,873 shares during the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, October 4th. Scotiabank increased their price objective on Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 16th. Royal Bank of Canada lifted their target price on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, CIBC increased their price target on shares of Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.93.

Pan American Silver Stock Down 1.8 %

Shares of PAAS stock opened at $22.99 on Monday. Pan American Silver Corp. has a twelve month low of $12.16 and a twelve month high of $26.05. The stock has a market cap of $8.35 billion, a P/E ratio of -58.95 and a beta of 1.33. The stock has a 50 day moving average of $21.74 and a 200 day moving average of $21.05. The company has a current ratio of 2.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). Pan American Silver had a negative net margin of 5.54% and a positive return on equity of 0.66%. The firm had revenue of $686.30 million for the quarter, compared to analysts’ expectations of $696.08 million. During the same period last year, the firm earned $0.04 earnings per share. Pan American Silver’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts expect that Pan American Silver Corp. will post 0.66 EPS for the current year.

Pan American Silver Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Monday, August 19th. Pan American Silver’s payout ratio is currently -102.56%.

About Pan American Silver

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.