Franklin Resources Inc. Acquires 11,530 Shares of Pan American Silver Corp. $PAAS

Franklin Resources Inc. lifted its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 4.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 252,538 shares of the basic materials company’s stock after purchasing an additional 11,530 shares during the quarter. Franklin Resources Inc.’s holdings in Pan American Silver were worth $7,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Envestnet Asset Management Inc. boosted its position in Pan American Silver by 3.2% during the first quarter. Envestnet Asset Management Inc. now owns 33,916 shares of the basic materials company’s stock worth $876,000 after purchasing an additional 1,054 shares during the period. LPL Financial LLC grew its stake in Pan American Silver by 11.3% in the 1st quarter. LPL Financial LLC now owns 207,724 shares of the basic materials company’s stock valued at $5,365,000 after buying an additional 21,008 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Pan American Silver in the 1st quarter valued at about $212,000. US Bancorp DE lifted its position in Pan American Silver by 13.4% during the first quarter. US Bancorp DE now owns 6,959 shares of the basic materials company’s stock worth $180,000 after acquiring an additional 820 shares during the last quarter. Finally, J. Safra Sarasin Holding AG boosted its holdings in shares of Pan American Silver by 22.5% during the first quarter. J. Safra Sarasin Holding AG now owns 17,467 shares of the basic materials company’s stock worth $451,000 after acquiring an additional 3,213 shares during the period. 55.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Scotiabank boosted their price target on Pan American Silver from $36.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. National Bankshares restated an “outperform” rating on shares of Pan American Silver in a research note on Friday, September 5th. CIBC increased their target price on shares of Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, November 24th. Finally, Wall Street Zen downgraded Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $41.25.

Pan American Silver Price Performance

Shares of NYSE PAAS opened at $45.31 on Monday. The company has a market capitalization of $19.12 billion, a PE ratio of 31.25, a P/E/G ratio of 0.44 and a beta of 0.63. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15. Pan American Silver Corp. has a twelve month low of $19.80 and a twelve month high of $45.97. The firm has a fifty day simple moving average of $37.94 and a 200 day simple moving average of $32.65.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The business had revenue of $854.60 million during the quarter, compared to analyst estimates of $867.76 million. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, sell-side analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 24th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.2%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, November 24th. Pan American Silver’s payout ratio is presently 32.37%.

Pan American Silver Company Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.