Alpine Associates Management Inc. Invests $4.67 Million in Pan American Silver Corp. $PAAS

Alpine Associates Management Inc. purchased a new stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 3rd quarter, Holdings Channel reports. The firm purchased 120,616 shares of the basic materials company’s stock, valued at approximately $4,671,000.

Several other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in shares of Pan American Silver by 48.6% in the 1st quarter. AQR Capital Management LLC now owns 19,529 shares of the basic materials company’s stock valued at $504,000 after purchasing an additional 6,391 shares during the period. Jones Financial Companies Lllp lifted its stake in Pan American Silver by 574.9% in the 1st quarter. Jones Financial Companies Lllp now owns 19,518 shares of the basic materials company’s stock valued at $504,000 after purchasing an additional 16,626 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Pan American Silver by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,499,343 shares of the basic materials company’s stock valued at $38,728,000 after buying an additional 360,283 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Pan American Silver in the first quarter worth approximately $1,272,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Pan American Silver during the 2nd quarter worth about $215,000. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Down 8.9%

PAAS stock opened at $54.56 on Friday. The firm has a 50-day simple moving average of $54.63 and a 200-day simple moving average of $42.44. The company has a quick ratio of 1.55, a current ratio of 2.31 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $23.02 billion, a P/E ratio of 31.54, a P/E/G ratio of 0.60 and a beta of 0.66. Pan American Silver Corp. has a 52 week low of $20.55 and a 52 week high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pan American Silver had a return on equity of 11.66% and a net margin of 19.52%.The company had revenue of $854.60 million for the quarter, compared to analyst estimates of $867.76 million. During the same period last year, the firm posted $0.32 EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. Equities analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PAAS shares. Zacks Research downgraded shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Bank of America lifted their price objective on Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Wall Street Zen upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce set a $88.00 price objective on shares of Pan American Silver and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.60.

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.