Korea Investment CORP Invests $1.03 Million in Pan American Silver Corp. $PAAS

Korea Investment CORP acquired a new stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the second quarter, according to its most recent filing with the SEC. The fund acquired 22,988 shares of the basic materials company’s stock, valued at approximately $1,030,000.

A number of other institutional investors have also added to or reduced their stakes in PAAS. NFJ Investment Group LLC bought a new stake in shares of Pan American Silver during the second quarter valued at about $25,000. Parallel Advisors LLC boosted its position in shares of Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 387 shares during the period. Fifth Third Bancorp grew its stake in Pan American Silver by 1,336.1% during the first 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 in the last quarter. Danske Bank A S purchased a new position in Pan American Silver during the second quarter valued at approximately $30,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Pan American Silver during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Wall Street Analysts Forecast Growth

PAAS has been the topic of a number of recent analyst reports. TD Securities upgraded Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Monday, May 11th. Jefferies Financial Group cut their price target on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Scotiabank reissued an “outperform” rating on shares of Pan American Silver in a report on Tuesday, July 14th. Bank of America cut 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 report on Thursday, July 9th. Finally, Zacks Research raised Pan American Silver from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Pan American Silver currently has an average rating of “Moderate Buy” and a consensus price target of $70.43.

Pan American Silver Stock Up 0.9%

Shares of NYSE PAAS opened at $54.14 on Wednesday. The stock has a market capitalization of $22.58 billion, a P/E ratio of 16.36, a PEG ratio of 4.95 and a beta of 0.73. Pan American Silver Corp. has a one year low of $32.32 and a one year high of $69.99. The firm’s 50 day simple moving average is $46.41 and its two-hundred day simple moving average is $52.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share 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 business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was up 38.4% compared to the same quarter last year. As a group, analysts expect that Pan American Silver Corp. will post 4.06 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be given a dividend of $0.184 per share. The ex-dividend date is Monday, August 24th. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 1.4%. Pan American Silver’s dividend payout ratio (DPR) is currently 22.36%.

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.