Cheviot Value Management LLC increased its stake in Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,610 shares of the basic materials company’s stock after acquiring an additional 19,506 shares during the quarter. Pan American Silver accounts for approximately 2.0% of Cheviot Value Management LLC’s portfolio, making the stock its 14th largest position. Cheviot Value Management LLC owned approximately 0.17% of Pan American Silver worth $3,790,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Morgan Stanley grew its position in Pan American Silver by 143.0% in the 3rd quarter. Morgan Stanley now owns 2,741,507 shares of the basic materials company’s stock valued at $40,465,000 after purchasing an additional 1,613,344 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Pan American Silver by 129.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,850,469 shares of the basic materials company’s stock worth $41,616,000 after buying an additional 1,606,978 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Pan American Silver by 174.8% in the 4th quarter. Mackenzie Financial Corp now owns 2,503,314 shares of the basic materials company’s stock worth $36,548,000 after buying an additional 1,592,198 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Pan American Silver by 18.0% in the 3rd quarter. Renaissance Technologies LLC now owns 5,759,487 shares of the basic materials company’s stock worth $85,010,000 after buying an additional 876,582 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Pan American Silver by 23.5% in the 3rd quarter. FMR LLC now owns 4,268,438 shares of the basic materials company’s stock worth $63,002,000 after buying an additional 811,801 shares during the last quarter. Institutional investors own 51.47% of the company’s stock.
PAAS has been the topic of a number of research analyst reports. Canaccord Genuity reissued a “buy” rating and issued a $25.00 price target on shares of Pan American Silver in a report on Tuesday, January 8th. Bank of America downgraded shares of Pan American Silver from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $16.70 to $12.75 in a report on Monday, November 19th. Royal Bank of Canada downgraded shares of Pan American Silver from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $19.00 to $17.00 in a report on Thursday, November 15th. ValuEngine raised shares of Pan American Silver from a “hold” rating to a “buy” rating in a report on Monday, December 17th. Finally, BidaskClub upgraded Pan American Silver from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $17.28.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, February 20th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.04). Pan American Silver had a net margin of 1.38% and a return on equity of 3.80%. The firm had revenue of $173.40 million during the quarter, compared to the consensus estimate of $179.03 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The company’s revenue was down 23.3% on a year-over-year basis. Research analysts predict that Pan American Silver Corp. will post 0.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Monday, March 4th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, March 1st. Pan American Silver’s dividend payout ratio is presently 35.90%.
About Pan American Silver
Pan American Silver Corp., together with its subsidiaries, engages in exploration, extraction, processing, refining, and reclamation of silver mines. The company owns and operates silver mines located in Peru, Mexico, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper. The company holds interests in the La Colorada, Dolores, Alamo Dorado, Huaron, Morococha, Manantial Espejo, and San Vicente mines.
Featured Story: The Discount Rate – What You Need to Know
Want to see what other hedge funds are holding PAAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS).
Receive News & Ratings for Pan American Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pan American Silver and related companies with MarketBeat.com's FREE daily email newsletter.