Hillsdale Investment Management Inc. Cuts Position in Pan American Silver Corp. $PAAS

Hillsdale Investment Management Inc. cut its holdings in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 6.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 415,270 shares of the basic materials company’s stock after selling 26,320 shares during the period. Hillsdale Investment Management Inc.’s holdings in Pan American Silver were worth $22,712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Parallel Advisors LLC boosted its position in Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 387 shares during the last quarter. Fifth Third Bancorp grew its stake in 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 valued at $28,000 after purchasing an additional 481 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Pan American Silver during the 4th quarter valued at $34,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Pan American Silver during the 4th quarter valued at $41,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Pan American Silver by 173.3% during the 4th quarter. Golden State Wealth Management LLC now owns 820 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 520 shares during the period. 55.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PAAS. Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a report on Tuesday, May 12th. Royal Bank Of Canada restated an “outperform” rating and set a $75.00 price objective on shares of Pan American Silver in a report on Tuesday, April 28th. Bank of America lowered their price objective on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group dropped their target price on shares of 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, Zacks Research downgraded shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

Pan American Silver Stock Down 2.2%

PAAS stock opened at $42.72 on Tuesday. The stock has a fifty day moving average of $50.88 and a 200-day moving average of $54.77. Pan American Silver Corp. has a fifty-two week low of $26.76 and a fifty-two week high of $69.99. The company has a market capitalization of $17.94 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 3.79 and a beta of 0.72. 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 (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 49.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. As a group, equities research analysts predict that Pan American Silver Corp. will post 4.31 earnings per share for the current year.

Pan American Silver Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th were paid a $0.18 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.7%. Pan American Silver’s dividend payout ratio (DPR) is presently 23.15%.

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.