Arrowstreet Capital Limited Partnership Trims Holdings in Pan American Silver Corp. $PAAS

Arrowstreet Capital Limited Partnership lowered its stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 26.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,371,454 shares of the basic materials company’s stock after selling 1,209,645 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Pan American Silver were worth $184,199,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its holdings in shares of Pan American Silver by 1,336.1% in the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 481 shares during the period. Parallel Advisors LLC boosted its holdings in Pan American Silver by 151.8% in the 3rd 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. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Pan American Silver in the 4th quarter valued at approximately $34,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Pan American Silver in the 4th quarter valued at approximately $41,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Pan American Silver during the 1st quarter worth approximately $44,000. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on PAAS shares. Bank of America decreased their price objective on Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group cut their target price on Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a research note on Monday, July 6th. TD Securities upgraded Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Monday, May 11th. Wall Street Zen lowered Pan American Silver from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Zacks Research cut Pan American Silver from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.43.

Pan American Silver Stock Down 0.4%

Shares of NYSE PAAS opened at $44.03 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.84 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $48.07 and its two-hundred day moving average is $54.17. Pan American Silver Corp. has a 52-week low of $26.76 and a 52-week high of $69.99. The firm has a market cap of $18.36 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 3.91 and a beta of 0.72.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $1.33 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 company’s revenue was up 49.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. Research analysts predict that Pan American Silver Corp. will post 4.02 EPS for the current year.

Pan American Silver Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th were given 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 payout ratio is currently 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.