Cibc World Market Inc. Lowers Stock Holdings in Pan American Silver Corp. $PAAS

Cibc World Market Inc. decreased its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 2.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,175,068 shares of the basic materials company’s stock after selling 25,973 shares during the quarter. Cibc World Market Inc. owned approximately 0.28% of Pan American Silver worth $60,927,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PAAS. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Pan American Silver in the 3rd quarter worth $1,074,000. Vanguard Group Inc. lifted its stake 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 purchasing an additional 3,006,055 shares in the last quarter. TD Asset Management Inc lifted its stake in Pan American Silver by 13.9% in the 3rd quarter. TD Asset Management Inc now owns 2,251,564 shares of the basic materials company’s stock worth $87,270,000 after purchasing an additional 274,591 shares in the last quarter. First Eagle Investment Management LLC purchased a new stake in Pan American Silver in the 3rd quarter worth $178,004,000. Finally, Caprock Group LLC purchased a new stake in Pan American Silver in the 3rd quarter worth $1,443,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Down 4.6%

Shares of NYSE PAAS opened at $52.67 on Thursday. The firm’s 50-day moving average price is $55.65 and its 200-day moving average price is $54.46. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $22.19 billion, a price-to-earnings ratio of 16.93, a P/E/G 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.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. On average, equities research analysts anticipate that Pan American Silver Corp. will post 4.65 EPS for the current fiscal year.

Pan American Silver Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on PAAS. TD Securities upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Monday, May 11th. Zacks Research cut shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Wall Street Zen cut shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a research note on Tuesday, May 12th. Finally, TD Cowen upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $72.00 in a research note on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Pan American Silver presently has an average rating of “Moderate Buy” and an average target price of $68.00.

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.