Hsbc Holdings PLC Cuts Stake in Pan American Silver Corp. $PAAS

Hsbc Holdings PLC lessened its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 41.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 195,682 shares of the basic materials company’s stock after selling 139,613 shares during the period. Hsbc Holdings PLC’s holdings in Pan American Silver were worth $10,161,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PAAS. Van ECK Associates Corp raised its holdings in 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 worth $1,748,355,000 after purchasing an additional 15,405,762 shares in the last quarter. Norges Bank purchased a new stake in Pan American Silver in the 4th quarter valued at approximately $303,611,000. First Eagle Investment Management LLC acquired a new position in Pan American Silver during the 3rd quarter worth approximately $178,004,000. FIL Ltd increased its position in Pan American Silver by 154.7% during the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock worth $378,872,000 after purchasing an additional 4,438,478 shares during the period. Finally, Capital International Investors purchased a new position in shares of Pan American Silver during the 4th quarter worth approximately $215,484,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Performance

Shares of PAAS stock opened at $44.95 on Friday. The stock has a fifty day moving average price of $53.52 and a 200 day moving average price of $55.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84. The stock has a market cap of $18.94 billion, a PE ratio of 14.45, a P/E/G ratio of 0.35 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.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.25 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. Pan American Silver’s revenue was up 49.3% compared to the same quarter last year. Sell-side analysts forecast that Pan American Silver Corp. will post 4.66 earnings per share 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. Investors of record on Tuesday, May 19th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis 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 presently 23.15%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PAAS. TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Monday, May 11th. Wall Street Zen cut Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $75.00 target price on shares of Pan American Silver in a research report on Tuesday, April 28th. Finally, TD Cowen raised shares of Pan American Silver from a “hold” rating to a “buy” rating and upped their price target for the stock from $67.00 to $72.00 in a research note on Tuesday, May 12th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Pan American Silver currently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

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.