Bank of Nova Scotia Has $33.13 Million Stock Position in Pan American Silver Corp. $PAAS

Bank of Nova Scotia lowered its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 7.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 605,882 shares of the basic materials company’s stock after selling 45,310 shares during the period. Bank of Nova Scotia’s holdings in Pan American Silver were worth $33,135,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. boosted its stake in shares of Pan American Silver by 2.0% during the 1st quarter. Sei Investments Co. now owns 153,130 shares of the basic materials company’s stock worth $8,366,000 after acquiring an additional 2,931 shares during the period. Cetera Investment Advisers lifted its holdings in Pan American Silver by 16.3% during the 1st quarter. Cetera Investment Advisers now owns 252,867 shares of the basic materials company’s stock valued at $13,814,000 after purchasing an additional 35,477 shares during the last quarter. Wealthspire Retirement LLC boosted its position in Pan American Silver by 32.4% during the first quarter. Wealthspire Retirement LLC now owns 8,274 shares of the basic materials company’s stock worth $452,000 after purchasing an additional 2,024 shares during the period. First Trust Advisors LP boosted its position in Pan American Silver by 25.0% during the first quarter. First Trust Advisors LP now owns 91,006 shares of the basic materials company’s stock worth $4,978,000 after purchasing an additional 18,217 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Pan American Silver by 18.8% in the first quarter. PNC Financial Services Group Inc. now owns 29,039 shares of the basic materials company’s stock valued at $1,586,000 after purchasing an additional 4,587 shares during the last quarter. Institutional investors own 55.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PAAS. Wall Street Zen lowered shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. TD Securities raised 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. Zacks Research lowered Pan American Silver from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. TD Cowen upgraded 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 research note on Tuesday, May 12th. Finally, Bank of America lowered their price objective on Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Pan American Silver 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 current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. The company 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 Corp. has a 12 month low of $26.76 and a 12 month high of $69.99. The stock has a 50-day moving average price of $48.07 and a two-hundred day moving average price of $54.17.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly 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 company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.25 billion. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. The firm’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 EPS. As a group, analysts forecast that Pan American Silver Corp. will post 4.02 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Pan American Silver’s payout ratio is presently 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.