TD Asset Management Inc Grows Position in Pan American Silver Corp. $PAAS

TD Asset Management Inc raised its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,467,918 shares of the basic materials company’s stock after purchasing an additional 216,354 shares during the quarter. TD Asset Management Inc’s holdings in Pan American Silver were worth $128,117,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in Pan American Silver by 51.8% during the 3rd quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company’s stock valued at $1,748,355,000 after buying an additional 15,405,762 shares in the last quarter. Vanguard Group Inc. grew its holdings in Pan American Silver by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company’s stock valued at $905,513,000 after buying an additional 274,168 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Pan American Silver by 38.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company’s stock valued at $560,149,000 after buying an additional 4,037,311 shares in the last quarter. Invesco Ltd. grew its holdings in Pan American Silver by 9.8% during the 3rd quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company’s stock valued at $383,365,000 after buying an additional 882,135 shares in the last quarter. Finally, Norges Bank purchased a new position in Pan American Silver during the 4th quarter valued at approximately $303,611,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Price Performance

Shares of Pan American Silver stock opened at $53.13 on Friday. The stock has a market cap of $22.39 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 0.41 and a beta of 0.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84. The stock has a 50 day moving average price of $55.71 and a 200-day moving average price of $54.56. Pan American Silver Corp. has a one year low of $26.76 and a one year high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $0.42 EPS. Pan American Silver’s quarterly revenue was up 49.3% compared to the same quarter last year. Equities analysts expect that Pan American Silver Corp. will post 4.65 EPS for the current year.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 19th. Pan American Silver’s dividend payout ratio (DPR) is currently 23.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PAAS shares. TD Cowen upgraded Pan American Silver from a “hold” rating to a “buy” rating and lifted their target price for the stock from $67.00 to $72.00 in a report on Tuesday, May 12th. TD Securities upgraded 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a report on Tuesday, May 12th. Wall Street Zen cut Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Finally, Zacks Research cut Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Pan American Silver has an average rating of “Moderate Buy” and a consensus price target of $68.00.

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.