The Manufacturers Life Insurance Company Decreases Holdings in Pan American Silver Corp. $PAAS

The Manufacturers Life Insurance Company decreased its stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,849,263 shares of the basic materials company’s stock after selling 87,882 shares during the period. The Manufacturers Life Insurance Company’s holdings in Pan American Silver were worth $155,680,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in shares of Pan American Silver by 1,336.1% during the 1st quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 481 shares during the period. Parallel Advisors LLC raised its holdings in shares of Pan American Silver by 151.8% in the 3rd 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 period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Pan American Silver in the 4th quarter worth approximately $34,000. Laurel Wealth Advisors LLC bought a new stake in shares of Pan American Silver in the 4th quarter worth approximately $41,000. Finally, Harbor Investment Advisory LLC purchased a new position in Pan American Silver in the first quarter valued at approximately $44,000. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Pan American Silver Stock Performance

NYSE:PAAS opened at $43.22 on Wednesday. The stock has a market cap of $18.03 billion, a P/E ratio of 13.90, a PEG ratio of 3.79 and a beta of 0.72. The company has a quick ratio of 2.11, a current ratio of 2.84 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $47.66 and its two-hundred day moving average price is $54.02. Pan American Silver Corp. has a twelve month low of $26.76 and a twelve month high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, topping the consensus estimate 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 return on equity of 19.50% and a net margin of 31.66%.Pan American Silver’s revenue was up 49.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, equities analysts predict that Pan American Silver Corp. will post 4.15 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The business also recently announced 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 was Tuesday, May 19th. This represents a $0.72 annualized dividend and a yield of 1.7%. Pan American Silver’s payout ratio is presently 23.15%.

Analyst Ratings Changes

Several equities analysts have weighed in on PAAS shares. Scotiabank reissued an “outperform” rating on shares of Pan American Silver in a report on Tuesday, July 14th. Bank of America lowered their target price on Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $75.00 price target on shares of Pan American Silver in a research report on Tuesday, April 28th. Wall Street Zen downgraded Pan American Silver from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Jefferies Financial Group decreased their price objective on Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.43.

Pan American Silver Company 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.