Pan American Silver Corp. $PAAS Shares Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 21.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,360 shares of the basic materials company’s stock after buying an additional 14,055 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Pan American Silver were worth $4,387,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Pan American Silver in the fourth quarter valued at approximately $303,611,000. FIL Ltd boosted its position in shares of Pan American Silver by 154.7% during the fourth quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock worth $378,872,000 after buying an additional 4,438,478 shares during the period. Capital International Investors acquired a new stake in shares of Pan American Silver in the fourth quarter valued at $215,484,000. Bank of America Corp DE raised its holdings in shares of Pan American Silver by 148.3% in the 2nd quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock valued at $95,658,000 after buying an additional 2,011,862 shares during the period. Finally, Man Group plc lifted its stake in Pan American Silver by 252.0% during the 2nd quarter. Man Group plc now owns 1,667,132 shares of the basic materials company’s stock worth $47,347,000 after acquiring an additional 1,193,458 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Down 1.7%

PAAS stock opened at $42.50 on Thursday. 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 twelve month low of $26.76 and a twelve month high of $69.99. The company’s 50 day moving average is $47.41 and its two-hundred day moving average is $53.95. The stock has a market cap of $17.72 billion, a P/E ratio of 13.66, a PEG ratio of 3.71 and a beta of 0.72.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. The company’s revenue for the quarter was up 49.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS. Research analysts expect that Pan American Silver Corp. will post 4.15 earnings per share for the current fiscal 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 $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, May 19th. Pan American Silver’s dividend payout ratio is currently 23.15%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Scotiabank reaffirmed an “outperform” rating on shares of Pan American Silver in a research report on Tuesday, July 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Pan American Silver in a research report on Tuesday, April 28th. Bank of America reduced their price objective 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. Jefferies Financial Group decreased their target price 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. Finally, Weiss Ratings downgraded Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.43.

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.