Bank of America Corp DE Has $101.35 Million Holdings in Pan American Silver Corp. $PAAS

Bank of America Corp DE lowered its holdings in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 28.3% during the first quarter, Holdings Channel.com reports. The firm owned 1,855,201 shares of the basic materials company’s stock after selling 731,134 shares during the period. Bank of America Corp DE’s holdings in Pan American Silver were worth $101,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Parallel Advisors LLC lifted its position in shares of Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 387 shares in the last quarter. Fifth Third Bancorp raised its position in Pan American Silver by 1,336.1% in the 1st quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 481 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Pan American Silver in the 4th quarter worth approximately $34,000. Laurel Wealth Advisors LLC acquired a new position in Pan American Silver during the 4th quarter worth $41,000. Finally, Golden State Wealth Management LLC boosted its position in Pan American Silver by 173.3% in the 4th quarter. Golden State Wealth Management LLC now owns 820 shares of the basic materials company’s stock valued at $42,000 after buying an additional 520 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PAAS shares. Bank of America cut their price target on Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. TD Securities upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Monday, May 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $75.00 price target on shares of Pan American Silver in a research note on Tuesday, April 28th. TD Cowen upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and increased their price objective for the company from $67.00 to $72.00 in a report on Tuesday, May 12th. Finally, Weiss Ratings cut shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.43.

Pan American Silver Stock Up 6.7%

Shares of Pan American Silver stock opened at $51.25 on Friday. The business’s 50 day simple moving average is $46.21 and its 200 day simple moving average is $53.51. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84. Pan American Silver Corp. has a 52-week low of $30.59 and a 52-week high of $69.99. The firm has a market cap of $21.38 billion, a PE ratio of 16.48, a P/E/G ratio of 4.16 and a beta of 0.73.

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 analysts’ consensus estimates of $1.06 by $0.03. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the firm posted $0.42 earnings per share. The business’s revenue was up 49.3% on a year-over-year basis. On average, analysts predict that Pan American Silver Corp. will post 4.11 earnings per share for the current fiscal year.

Pan American Silver 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.