Empowered Funds LLC Invests $4.22 Million in Pan American Silver Corp. $PAAS

Empowered Funds LLC purchased a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 94,329 shares of the basic materials company’s stock, valued at approximately $4,225,000.

Several other institutional investors also recently bought and sold shares of PAAS. Fifth Third Bancorp raised its holdings in Pan American Silver by 1,336.1% during the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 481 shares in the last quarter. NFJ Investment Group LLC purchased a new position in shares of Pan American Silver during the 2nd quarter worth approximately $25,000. Parallel Advisors LLC raised its stake in shares of Pan American Silver by 151.8% during the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after buying an additional 387 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Pan American Silver in the 4th quarter valued at approximately $34,000. Finally, Danske Bank A S acquired a new stake in shares of Pan American Silver in the 2nd quarter valued at approximately $30,000. 55.43% of the stock is owned by institutional investors and hedge funds.

Pan American Silver Stock Performance

Shares of PAAS stock opened at $51.90 on Tuesday. The stock has a fifty day moving average price of $46.71 and a 200 day moving average price of $52.60. The stock has a market cap of $21.65 billion, a PE ratio of 15.68, a P/E/G ratio of 5.06 and a beta of 0.73. Pan American Silver Corp. has a 1 year low of $32.95 and a 1 year high of $69.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.23 and a current ratio of 2.94.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.11). Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company posted $0.43 EPS. The firm’s revenue for the quarter was up 38.4% on a year-over-year basis. Sell-side analysts forecast that Pan American Silver Corp. will post 3.91 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be paid a $0.184 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, August 24th. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.18. Pan American Silver’s dividend payout ratio is currently 22.36%.

Analysts Set New Price Targets

PAAS has been the topic of a number of recent analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Pan American Silver in a report on Tuesday, July 14th. BMO Capital Markets restated a “market perform” rating on shares of Pan American Silver in a research report on Thursday, August 13th. TD Securities raised shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Monday, May 11th. Jefferies Financial Group cut their price target on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a report on Monday, July 6th. Finally, Bank of America reduced their price objective on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.43.

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.