Tocqueville Asset Management L.P. Acquires Shares of 22,221 Pan American Silver Corp. $PAAS

Tocqueville Asset Management L.P. bought a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 22,221 shares of the basic materials company’s stock, valued at approximately $995,000.

Several other institutional investors and hedge funds have also made changes to their positions in PAAS. Parallel Advisors LLC grew its stake in Pan American Silver by 151.8% during the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after buying an additional 387 shares during the last quarter. Fifth Third Bancorp lifted its stake in Pan American Silver by 1,336.1% in the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock valued at $28,000 after buying an additional 481 shares during the last quarter. Danske Bank A S purchased a new stake in Pan American Silver in the second quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Pan American Silver in the fourth quarter valued at approximately $34,000. Finally, Paladin Partners LLC purchased a new position in shares of Pan American Silver during the second quarter worth approximately $40,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAAS has been the subject of several research reports. Weiss Ratings downgraded shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Scotiabank restated an “outperform” rating on shares of Pan American Silver in a research note on Tuesday, July 14th. TD Securities raised shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Monday, May 11th. Bank of America decreased their target price on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pan American Silver in a report on Thursday, August 13th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Pan American Silver currently has an average rating of “Moderate Buy” and a consensus target price of $70.43.

Pan American Silver Stock Performance

NYSE:PAAS opened at $51.95 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. The firm has a market cap of $21.67 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 4.67 and a beta of 0.73. The firm’s fifty day moving average price is $46.22 and its 200 day moving average price is $52.75. Pan American Silver Corp. has a 1-year low of $31.16 and a 1-year high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.11). Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company posted $0.43 EPS. The firm’s quarterly revenue was up 38.4% compared to the same quarter last year. On average, sell-side analysts expect that Pan American Silver Corp. will post 4.03 EPS for the current year.

Pan American Silver Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be issued a dividend of $0.184 per share. This is an increase from Pan American Silver’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, August 24th. Pan American Silver’s dividend payout ratio is currently 21.75%.

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.