Renaissance Technologies LLC Makes New Investment in Pan American Silver Corp. $PAAS

Renaissance Technologies LLC acquired a new stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,302,226 shares of the basic materials company’s stock, valued at approximately $71,141,000. Renaissance Technologies LLC owned approximately 0.31% of Pan American Silver as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Veracity Capital LLC lifted its holdings in shares of Pan American Silver by 1.9% in the fourth quarter. Veracity Capital LLC now owns 9,868 shares of the basic materials company’s stock worth $511,000 after buying an additional 185 shares in the last quarter. RFG Advisory LLC grew its stake in Pan American Silver by 2.5% during the first quarter. RFG Advisory LLC now owns 7,731 shares of the basic materials company’s stock valued at $422,000 after acquiring an additional 191 shares in the last quarter. Grand Central Investment Group increased its holdings in Pan American Silver by 0.5% in the 1st quarter. Grand Central Investment Group now owns 44,801 shares of the basic materials company’s stock valued at $2,447,000 after acquiring an additional 211 shares during the last quarter. Metis Global Partners LLC increased its holdings in Pan American Silver by 1.5% in the 4th quarter. Metis Global Partners LLC now owns 16,646 shares of the basic materials company’s stock valued at $863,000 after acquiring an additional 239 shares during the last quarter. Finally, North Star Investment Management Corp. increased its holdings in Pan American Silver by 7.8% in the 1st quarter. North Star Investment Management Corp. now owns 3,451 shares of the basic materials company’s stock valued at $189,000 after acquiring an additional 251 shares during the last quarter. Institutional investors own 55.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PAAS shares. Weiss Ratings downgraded shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Wall Street Zen downgraded Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Zacks Research lowered Pan American Silver from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. TD Cowen upgraded Pan American Silver from a “hold” rating to a “buy” rating and raised their price target for the company from $67.00 to $72.00 in a report on Tuesday, May 12th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.43.

Pan American Silver Stock Down 0.0%

Shares of NYSE PAAS opened at $44.03 on Monday. Pan American Silver Corp. has a 1 year low of $26.76 and a 1 year high of $69.99. The firm has a 50-day simple moving average of $48.07 and a two-hundred day simple moving average of $54.18. The company has a market cap of $18.36 billion, a P/E ratio of 14.16, a PEG ratio of 3.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.84 and a quick ratio of 2.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, beating 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 $1.33 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 49.3% on a year-over-year basis. Research analysts anticipate that Pan American Silver Corp. will post 4.02 earnings per share for the current year.

Pan American Silver Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Pan American Silver’s payout ratio is currently 23.15%.

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.