Geode Capital Management LLC Acquires 252,309 Shares of Pan American Silver Corp. $PAAS

Geode Capital Management LLC boosted its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,827,024 shares of the basic materials company’s stock after purchasing an additional 252,309 shares during the quarter. Geode Capital Management LLC’s holdings in Pan American Silver were worth $197,498,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its stake in Pan American Silver by 51.8% during the 3rd quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company’s stock valued at $1,748,355,000 after purchasing an additional 15,405,762 shares during the period. Vanguard Group Inc. lifted its position in shares of Pan American Silver by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company’s stock worth $905,513,000 after acquiring an additional 274,168 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Pan American Silver by 38.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company’s stock worth $560,149,000 after acquiring an additional 4,037,311 shares during the period. Invesco Ltd. lifted its position in shares of Pan American Silver by 9.8% in the 3rd quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company’s stock worth $383,365,000 after acquiring an additional 882,135 shares during the period. Finally, First Eagle Investment Management LLC bought a new stake in shares of Pan American Silver in the 3rd quarter worth approximately $178,004,000. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Price Performance

NYSE:PAAS opened at $55.06 on Wednesday. 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 stock’s 50 day moving average price is $55.41 and its two-hundred day moving average price is $54.24. The firm has a market capitalization of $23.20 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 0.44 and a beta of 0.67. Pan American Silver Corp. has a 12-month low of $25.56 and a 12-month high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data 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 analyst estimates of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The business’s revenue for the quarter was up 49.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, analysts anticipate that Pan American Silver Corp. will post 4.65 earnings per share for the current year.

Pan American Silver Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. Pan American Silver’s dividend payout ratio is presently 23.15%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PAAS shares. Canadian Imperial Bank of Commerce set a $88.00 price objective on Pan American Silver and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. TD Cowen upgraded Pan American Silver from a “hold” rating to a “buy” rating and raised their price objective for the stock from $67.00 to $72.00 in a research report on Tuesday, May 12th. 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. Wall Street Zen downgraded Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.