Korea Investment CORP Increases Holdings in Pan American Silver Corp. $PAAS

Korea Investment CORP increased its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 240.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 732,795 shares of the basic materials company’s stock after purchasing an additional 517,712 shares during the quarter. Korea Investment CORP’s holdings in Pan American Silver were worth $28,403,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PAAS. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Pan American Silver by 5,674.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,141,108 shares of the basic materials company’s stock worth $174,406,000 after buying an additional 6,034,755 shares during the period. Norges Bank bought a new position in shares of Pan American Silver during the 2nd quarter worth $155,281,000. First Eagle Investment Management LLC purchased a new position in shares of Pan American Silver during the third quarter valued at $178,004,000. Vanguard Group Inc. increased its stake in shares of Pan American Silver by 21.2% during the third quarter. Vanguard Group Inc. now owns 17,191,611 shares of the basic materials company’s stock valued at $666,192,000 after buying an additional 3,006,055 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Pan American Silver by 49.5% in the second quarter. Invesco Ltd. now owns 9,016,262 shares of the basic materials company’s stock valued at $256,062,000 after acquiring an additional 2,986,434 shares in the last quarter. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Scotiabank upped their price objective on shares of Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Bank of America boosted their price target on shares of Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a report on Monday, December 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Pan American Silver from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 22nd. Finally, Zacks Research lowered shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Pan American Silver currently has a consensus rating of “Moderate Buy” and an average target price of $56.60.

Pan American Silver Price Performance

Shares of PAAS stock opened at $60.63 on Tuesday. Pan American Silver Corp. has a 1-year low of $20.55 and a 1-year high of $69.99. The stock’s 50-day moving average is $58.61 and its 200 day moving average is $46.45. The company has a market cap of $25.58 billion, a P/E ratio of 24.25, a PEG ratio of 0.55 and a beta of 0.61. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.69 and a quick ratio of 1.97.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, February 18th. The basic materials company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.21. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.11 billion. Pan American Silver had a net margin of 27.07% and a return on equity of 16.38%. The firm’s revenue was up 44.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. Research analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.14. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. Pan American Silver’s dividend payout ratio is currently 28.80%.

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.