CIBC Asset Management Inc Reduces Stake in Pan American Silver Corp. $PAAS

CIBC Asset Management Inc lowered its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 483,498 shares of the basic materials company’s stock after selling 11,439 shares during the period. CIBC Asset Management Inc owned approximately 0.11% of Pan American Silver worth $25,082,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PAAS. Parallel Advisors LLC lifted its holdings in Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 387 shares during the period. Rothschild Investment LLC acquired a new position in Pan American Silver in the third quarter valued at approximately $36,000. EverSource Wealth Advisors LLC lifted its holdings in Pan American Silver by 93.6% in the third quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 497 shares during the period. Laurel Wealth Advisors LLC acquired a new position in Pan American Silver in the fourth quarter valued at approximately $41,000. Finally, Assetmark Inc. lifted its holdings in Pan American Silver by 3,111.4% in the third quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the period. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Analyst Upgrades and Downgrades

PAAS has been the subject of a number of analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $75.00 price target on shares of Pan American Silver in a report on Tuesday, April 28th. TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and boosted their price target for the company from $67.00 to $72.00 in a report on Tuesday, May 12th. Wall Street Zen downgraded Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a report on Tuesday, May 12th. Finally, Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Pan American Silver Stock Down 4.6%

Pan American Silver stock opened at $52.67 on Thursday. The stock has a market capitalization of $22.19 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.43 and a beta of 0.67. Pan American Silver Corp. has a 12 month low of $26.12 and a 12 month high of $69.99. The business has a 50 day simple moving average of $55.65 and a 200-day simple moving average of $54.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.84 and a quick ratio of 2.11.

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

Pan American Silver Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th were given a $0.18 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. Pan American Silver’s payout ratio is 23.15%.

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.