Credit Suisse AG lowered its stake in shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) by 7.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 810,603 shares of the basic materials company’s stock after selling 67,627 shares during the quarter. Credit Suisse AG owned about 0.53% of Pan American Silver worth $11,965,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new stake in Pan American Silver in the 3rd quarter valued at $223,000. Lincoln National Corp bought a new stake in Pan American Silver in the 2nd quarter valued at $224,000. Gamco Investors INC. ET AL bought a new stake in Pan American Silver in the 2nd quarter valued at $297,000. Sigma Planning Corp increased its holdings in Pan American Silver by 22.7% in the 2nd quarter. Sigma Planning Corp now owns 18,168 shares of the basic materials company’s stock valued at $325,000 after buying an additional 3,367 shares during the period. Finally, Fiera Capital Corp increased its holdings in Pan American Silver by 26.7% in the 2nd quarter. Fiera Capital Corp now owns 19,000 shares of the basic materials company’s stock valued at $341,000 after buying an additional 4,000 shares during the period. 51.25% of the stock is currently owned by institutional investors and hedge funds.
PAAS opened at $13.84 on Friday. Pan American Silver Corp. has a twelve month low of $12.12 and a twelve month high of $18.75. The stock has a market capitalization of $2.03 billion, a PE ratio of 27.14, a PEG ratio of 7.47 and a beta of 0.18.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its earnings results on Tuesday, November 6th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.10). Pan American Silver had a return on equity of 5.15% and a net margin of 14.75%. The firm had revenue of $187.70 million during the quarter, compared to the consensus estimate of $193.93 million. During the same period in the previous year, the company posted $0.15 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, research analysts expect that Pan American Silver Corp. will post 0.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Monday, November 19th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, November 16th. Pan American Silver’s payout ratio is 27.45%.
Several brokerages have issued reports on PAAS. BidaskClub raised shares of Pan American Silver from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research raised shares of Pan American Silver from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Bank of America lowered shares of Pan American Silver from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $16.70 to $12.75 in a report on Monday, November 19th. Royal Bank of Canada lowered shares of Pan American Silver from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $19.00 to $17.00 in a report on Thursday, November 15th. Finally, ValuEngine raised shares of Pan American Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Pan American Silver currently has an average rating of “Hold” and a consensus target price of $18.09.
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Pan American Silver Profile
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.
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