Assenagon Asset Management S.A. Acquires New Holdings in Pan American Silver Corp. $PAAS

Assenagon Asset Management S.A. bought a new position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,633 shares of the basic materials company’s stock, valued at approximately $604,000.

Other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 387 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Pan American Silver in the third quarter worth $36,000. City State Bank lifted its stake in shares of Pan American Silver by 74.4% in the third quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock worth $40,000 after buying an additional 435 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Pan American Silver by 93.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock worth $40,000 after buying an additional 497 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Pan American Silver by 3,111.4% during the 3rd quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock worth $44,000 after buying an additional 1,089 shares during the period. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Price Performance

NYSE:PAAS opened at $55.49 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.69 and a quick ratio of 1.97. Pan American Silver Corp. has a one year low of $20.55 and a one year high of $69.99. The company has a fifty day moving average price of $58.30 and a 200 day moving average price of $48.64. The stock has a market cap of $23.41 billion, a P/E ratio of 22.20, a PEG ratio of 0.45 and a beta of 0.75.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.21. Pan American Silver had a net margin of 27.07% and a return on equity of 16.38%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the business posted $0.35 EPS. The business’s quarterly revenue was up 44.7% on a year-over-year basis. Analysts anticipate that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were paid a $0.18 dividend. 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 1.3%. Pan American Silver’s dividend payout ratio is 28.80%.

Analyst Upgrades and Downgrades

PAAS has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce set a $88.00 target price on shares of Pan American Silver and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Wall Street Zen upgraded shares of Pan American Silver from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 22nd. Jefferies Financial Group lowered their price target on Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a research report on Wednesday, January 21st. Scotiabank lifted their price objective on Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

Pan American Silver Company Profile

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.