NewEdge Advisors LLC Sells 17,289 Shares of Pan American Silver Corp. $PAAS

NewEdge Advisors LLC reduced its stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 42.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,658 shares of the basic materials company’s stock after selling 17,289 shares during the quarter. NewEdge Advisors LLC’s holdings in Pan American Silver were worth $1,292,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PAAS. Norges Bank bought a new position in Pan American Silver during the 4th quarter worth approximately $303,611,000. FIL Ltd boosted its stake in shares of Pan American Silver by 154.7% in the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock valued at $378,872,000 after purchasing an additional 4,438,478 shares during the last quarter. Capital International Investors acquired a new stake in shares of Pan American Silver during the fourth quarter worth $215,484,000. Bank of America Corp DE increased its position in shares of Pan American Silver by 148.3% during the second quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock worth $95,658,000 after buying an additional 2,011,862 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Pan American Silver during the first quarter worth $71,141,000. 55.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PAAS has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings downgraded Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Zacks Research downgraded Pan American Silver from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $75.00 price objective on shares of Pan American Silver in a research report on Tuesday, April 28th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pan American Silver in a research note on Thursday. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.43.

Pan American Silver Stock Performance

Shares of PAAS stock opened at $47.41 on Monday. The firm has a 50 day moving average of $45.95 and a 200-day moving average of $53.10. The company has a market cap of $19.77 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 4.10 and a beta of 0.73. The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11. Pan American Silver Corp. has a 52 week low of $30.59 and a 52 week high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.11). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.16 billion. Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The firm’s revenue was up 38.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 EPS. On average, equities analysts forecast that Pan American Silver Corp. will post 4.11 earnings per share for the current year.

Pan American Silver Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be paid a $0.184 dividend. This represents a $0.74 annualized dividend and a yield of 1.6%. This is an increase from Pan American Silver’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, August 24th. Pan American Silver’s payout ratio is presently 21.75%.

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.