Employees Retirement System of Texas Sells 17,843 Shares of Pan American Silver Corp. $PAAS

Employees Retirement System of Texas decreased its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 40.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,321 shares of the basic materials company’s stock after selling 17,843 shares during the period. Employees Retirement System of Texas’ holdings in Pan American Silver were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC grew its stake in shares of Pan American Silver by 176.9% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 114,780 shares of the basic materials company’s stock valued at $4,445,000 after acquiring an additional 73,326 shares during the period. J. Safra Sarasin Holding AG boosted its holdings in Pan American Silver by 117.9% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 43,946 shares of the basic materials company’s stock worth $1,702,000 after buying an additional 23,780 shares during the period. Hollencrest Capital Management boosted its holdings in Pan American Silver by 214.3% in the 3rd quarter. Hollencrest Capital Management now owns 121,633 shares of the basic materials company’s stock worth $4,711,000 after buying an additional 82,932 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Pan American Silver in the 3rd quarter worth $1,074,000. Finally, Vanguard Group Inc. boosted its holdings in Pan American Silver by 21.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,191,611 shares of the basic materials company’s stock worth $666,192,000 after buying an additional 3,006,055 shares during the period. 55.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PAAS has been the subject of several recent analyst reports. Zacks Research downgraded shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Wall Street Zen raised shares of Pan American Silver from a “buy” rating to a “strong-buy” rating in a report on Monday, May 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Pan American Silver in a report on Tuesday, April 28th. Weiss Ratings restated a “buy (b)” rating on shares of Pan American Silver in a research note on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce set a $88.00 price target on Pan American Silver and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Pan American Silver Stock Down 3.6%

PAAS opened at $53.34 on Thursday. The firm has a 50-day simple moving average of $55.17 and a two-hundred day simple moving average of $53.83. Pan American Silver Corp. has a 52 week low of $23.88 and a 52 week high of $69.99. The company has a market capitalization of $22.47 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 0.44 and a beta of 0.65. The company has a quick ratio of 2.11, a current ratio of 2.84 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.25 billion. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. The business’s revenue was up 49.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. Analysts forecast that Pan American Silver Corp. will post 4.65 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 19th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, May 19th. Pan American Silver’s payout ratio is currently 23.15%.

Pan American Silver 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.