USS Investment Management Ltd Buys New Shares in Pan American Silver Corp. (NYSE:PAAS)

USS Investment Management Ltd bought a new position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 4th quarter, Holdings Channel.com reports. The fund bought 117,167 shares of the basic materials company’s stock, valued at approximately $2,382,000.

A number of other institutional investors have also bought and sold shares of PAAS. Signaturefd LLC boosted its stake in shares of Pan American Silver by 6.0% in the fourth quarter. Signaturefd LLC now owns 7,924 shares of the basic materials company’s stock worth $160,000 after acquiring an additional 451 shares during the period. US Bancorp DE lifted its holdings in Pan American Silver by 9.6% in the 4th quarter. US Bancorp DE now owns 6,139 shares of the basic materials company’s stock worth $124,000 after purchasing an additional 539 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Pan American Silver by 23.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,892 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 549 shares during the period. Principal Securities Inc. grew its holdings in Pan American Silver by 12.5% during the 4th quarter. Principal Securities Inc. now owns 5,977 shares of the basic materials company’s stock valued at $121,000 after buying an additional 664 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Pan American Silver by 2.4% during the fourth quarter. Evergreen Capital Management LLC now owns 30,203 shares of the basic materials company’s stock valued at $611,000 after buying an additional 715 shares during the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PAAS. Royal Bank of Canada boosted their price target on shares of Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Wall Street Zen upgraded Pan American Silver from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 15th. National Bankshares reissued an “outperform” rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. TD Securities reduced their price objective on Pan American Silver from $30.00 to $26.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, CIBC increased their target price on Pan American Silver from $38.00 to $42.00 and gave the company an “outperformer” rating in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Pan American Silver currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

Pan American Silver Trading Up 1.1%

PAAS opened at $24.12 on Friday. The stock has a 50-day moving average of $24.94 and a 200 day moving average of $23.52. The company has a current ratio of 2.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Pan American Silver Corp. has a 12 month low of $17.86 and a 12 month high of $28.60. The firm has a market cap of $8.74 billion, a P/E ratio of 75.39 and a beta of 0.75.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, May 7th. The basic materials company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.23. The firm had revenue of $773.20 million during the quarter, compared to analysts’ expectations of $696.62 million. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. The company’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. As a group, research analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Tuesday, May 20th. Pan American Silver’s dividend payout ratio (DPR) is 45.98%.

Pan American Silver Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.