65,056 Shares in Pan American Silver Corp. $PAAS Acquired by Elevatus Welath Management

Elevatus Welath Management bought a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the fourth quarter, Holdings Channel reports. The firm bought 65,056 shares of the basic materials company’s stock, valued at approximately $3,371,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in shares of Pan American Silver by 51.8% in the third quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company’s stock valued at $1,748,355,000 after purchasing an additional 15,405,762 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Pan American Silver by 5,674.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,141,108 shares of the basic materials company’s stock worth $174,406,000 after buying an additional 6,034,755 shares during the period. Norges Bank acquired a new position in Pan American Silver in the 2nd quarter valued at $155,281,000. First Eagle Investment Management LLC acquired a new position in Pan American Silver in the 3rd quarter valued at $178,004,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Pan American Silver by 38.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company’s stock worth $560,149,000 after acquiring an additional 4,037,311 shares during the period. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Stock Up 4.0%

Shares of NYSE:PAAS opened at $51.66 on Friday. The company has a market capitalization of $21.79 billion, a PE ratio of 20.66, a P/E/G ratio of 0.41 and a beta of 0.62. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.97 and a current ratio of 2.69. The company’s fifty day moving average is $58.49 and its 200-day moving average is $48.20. 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 results on Wednesday, February 18th. The basic materials company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.21. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.11 billion. Pan American Silver had a net margin of 27.07% and a return on equity of 16.38%. The company’s revenue for the quarter was up 44.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. Equities research analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.18 per share. The ex-dividend date was Monday, March 2nd. This is a boost from Pan American Silver’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. Pan American Silver’s dividend payout ratio (DPR) is currently 28.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America boosted their target price on shares of Pan American Silver from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Jefferies Financial Group cut their price objective on Pan American Silver from $58.00 to $54.00 and set a “hold” rating for the company in a research report on Wednesday, January 21st. Scotiabank increased their target price on Pan American Silver from $47.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce set a $88.00 target price on Pan American Silver and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.