Cibc World Market Inc. Decreases Holdings in Pan American Silver Corp. $PAAS

Cibc World Market Inc. trimmed its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,175,068 shares of the basic materials company’s stock after selling 25,973 shares during the period. Cibc World Market Inc.’s holdings in Pan American Silver were worth $60,927,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Greenwich Wealth Management LLC grew its holdings in Pan American Silver by 80.1% during the 4th quarter. Greenwich Wealth Management LLC now owns 49,000 shares of the basic materials company’s stock valued at $2,539,000 after purchasing an additional 21,796 shares during the last quarter. Old Peak Finance LLC bought a new position in Pan American Silver during the 4th quarter valued at about $655,000. BW Gestao de Investimentos Ltda. bought a new position in Pan American Silver during the 4th quarter valued at about $8,081,000. Clear Harbor Asset Management LLC bought a new position in Pan American Silver during the 4th quarter valued at about $925,000. Finally, Norges Bank bought a new position in Pan American Silver during the 4th quarter valued at about $303,611,000. 55.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PAAS shares. Zacks Research downgraded shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a report on Tuesday, May 12th. TD Cowen upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and upped their price target for the company from $67.00 to $72.00 in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce set a $88.00 price target on shares of Pan American Silver and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $75.00 price target on shares of Pan American Silver in a report on Tuesday, April 28th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.00.

Pan American Silver Stock Performance

Shares of NYSE:PAAS opened at $52.67 on Thursday. The firm has a market cap of $22.19 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.43 and a beta of 0.67. The firm’s 50 day simple moving average is $55.65 and its 200-day simple moving average is $54.46. Pan American Silver Corp. has a one year low of $26.12 and a one year high of $69.99. 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 (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $1.15 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 company’s quarterly revenue was up 49.3% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share. As a group, equities analysts predict that Pan American Silver Corp. will post 4.65 EPS for the current year.

Pan American Silver Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. Pan American Silver’s dividend payout ratio (DPR) is 23.15%.

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.