U S Global Investors Inc. Takes Position in Pan American Silver Corp. $PAAS

U S Global Investors Inc. purchased a new position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 73,555 shares of the basic materials company’s stock, valued at approximately $2,849,000.

Several other hedge funds have also recently bought and sold shares of PAAS. Arrowstreet Capital Limited Partnership boosted its position in Pan American Silver by 5,674.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,141,108 shares of the basic materials company’s stock worth $174,406,000 after purchasing an additional 6,034,755 shares in the last quarter. Norges Bank acquired a new position in shares of Pan American Silver during the 2nd quarter worth $155,281,000. Invesco Ltd. raised its stake in shares of Pan American Silver by 49.5% during the 2nd quarter. Invesco Ltd. now owns 9,016,262 shares of the basic materials company’s stock worth $256,062,000 after buying an additional 2,986,434 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of Pan American Silver in the 2nd quarter worth about $59,883,000. Finally, Bank of America Corp DE grew its stake in 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 acquiring an additional 2,011,862 shares during the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Trading Down 1.7%

Shares of PAAS opened at $50.95 on Friday. Pan American Silver Corp. has a fifty-two week low of $20.35 and a fifty-two week high of $55.85. The company has a market capitalization of $21.50 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. The stock has a fifty day moving average of $43.58 and a two-hundred day moving average of $36.76. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.55 and a current ratio of 2.31.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, November 12th. The basic materials company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $854.60 million during the quarter, compared to analysts’ expectations of $867.76 million. Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%. Pan American Silver’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. As a group, analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 24th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Pan American Silver’s previous quarterly dividend of $0.12. Pan American Silver’s dividend payout ratio is currently 32.37%.

Analyst Upgrades and Downgrades

PAAS has been the subject of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Scotiabank boosted their price target on Pan American Silver from $36.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Bank of America increased their price objective on Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, CIBC lifted their price objective on Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.33.

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.