CenterBook Partners LP Takes $1.72 Million Position in Pan American Silver Corp. $PAAS

CenterBook Partners LP purchased a new stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 33,115 shares of the basic materials company’s stock, valued at approximately $1,716,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in shares of Pan American Silver by 51.8% during 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 last quarter. Norges Bank bought a new position in Pan American Silver in the 4th quarter worth about $303,611,000. First Eagle Investment Management LLC bought a new stake in shares of Pan American Silver during the third quarter valued at approximately $178,004,000. Capital International Investors bought a new position in Pan American Silver in the 4th quarter valued at approximately $215,484,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Pan American Silver by 38.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company’s stock valued at $560,149,000 after purchasing an additional 4,037,311 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Wall Street Analyst Weigh In

PAAS has been the topic of several recent analyst reports. Zacks Research cut Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Wall Street Zen downgraded shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Weiss Ratings restated a “buy (b)” rating on shares of Pan American Silver in a report on Tuesday, May 12th. TD Cowen upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and boosted their target price for the company from $67.00 to $72.00 in a research note on Tuesday, May 12th. Finally, TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Monday, May 11th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Pan American Silver has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Pan American Silver Trading Down 2.7%

Shares of PAAS stock opened at $46.02 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.84 and a quick ratio of 2.11. The company has a market cap of $19.39 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.37 and a beta of 0.67. Pan American Silver Corp. has a 1 year low of $26.76 and a 1 year high of $69.99. The firm has a fifty day moving average price of $55.47 and a 200-day moving average price of $54.74.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the firm earned $0.42 EPS. Pan American Silver’s revenue for the quarter was up 49.3% compared to the same quarter last year. As a group, equities analysts predict that Pan American Silver Corp. will post 4.65 earnings per share for the current year.

Pan American Silver Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Pan American Silver’s dividend payout ratio is currently 23.15%.

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.