CIBC Asset Management Inc Cuts Stock Position in Pan American Silver Corp. $PAAS

CIBC Asset Management Inc cut its holdings in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 483,498 shares of the basic materials company’s stock after selling 11,439 shares during the quarter. CIBC Asset Management Inc’s holdings in Pan American Silver were worth $25,082,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Veracity Capital LLC increased its position in shares of Pan American Silver by 1.9% during the fourth quarter. Veracity Capital LLC now owns 9,868 shares of the basic materials company’s stock worth $511,000 after purchasing an additional 185 shares in the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Pan American Silver by 4.2% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,507 shares of the basic materials company’s stock worth $337,000 after purchasing an additional 262 shares in the last quarter. Harvest Portfolios Group Inc. increased its position in shares of Pan American Silver by 0.9% during the third quarter. Harvest Portfolios Group Inc. now owns 36,240 shares of the basic materials company’s stock worth $1,404,000 after purchasing an additional 318 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of Pan American Silver by 7.9% during the fourth quarter. CoreCap Advisors LLC now owns 4,535 shares of the basic materials company’s stock worth $235,000 after purchasing an additional 331 shares in the last quarter. Finally, Alta Wealth Advisors LLC increased its position in shares of Pan American Silver by 4.7% during the fourth quarter. Alta Wealth Advisors LLC now owns 8,351 shares of the basic materials company’s stock worth $433,000 after purchasing an additional 375 shares in the last quarter. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on PAAS. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a research report on Tuesday, May 12th. Royal Bank Of Canada reiterated an “outperform” rating and set a $75.00 price target on shares of Pan American Silver in a research report on Tuesday, April 28th. Zacks Research cut Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Wall Street Zen cut Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, TD Cowen upgraded Pan American Silver from a “hold” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $72.00 in a research report on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Pan American Silver Stock Performance

NYSE PAAS opened at $52.67 on Thursday. The stock’s fifty day moving average is $55.65 and its two-hundred day moving average is $54.46. The firm has a market capitalization of $22.19 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 0.43 and a beta of 0.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84. Pan American Silver Corp. has a fifty-two week low of $26.12 and a fifty-two week high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data 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 $1.15 billion for the quarter, compared to analyst estimates of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The firm’s revenue for the quarter was up 49.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, research analysts anticipate that Pan American Silver Corp. will post 4.65 earnings per share for the current year.

Pan American Silver Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th were paid 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 1.4%. Pan American Silver’s payout ratio is 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.