JPMorgan Chase & Co. Acquires 353,037 Shares of Pan American Silver Corp. (PAAS)
JPMorgan Chase & Co. increased its holdings in Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) by 452.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 431,069 shares of the basic materials company’s stock after purchasing an additional 353,037 shares during the period. JPMorgan Chase & Co. owned approximately 0.28% of Pan American Silver Corp. worth $7,251,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in Pan American Silver Corp. during the first quarter valued at about $164,000. Sigma Planning Corp acquired a new stake in shares of Pan American Silver Corp. in the second quarter worth about $181,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Pan American Silver Corp. in the second quarter worth about $189,000. Royal Bank of Scotland Group PLC acquired a new stake in shares of Pan American Silver Corp. in the first quarter worth about $307,000. Finally, Legal & General Group Plc lifted its position in shares of Pan American Silver Corp. by 5.7% in the second quarter. Legal & General Group Plc now owns 18,253 shares of the basic materials company’s stock worth $307,000 after buying an additional 990 shares during the last quarter. Hedge funds and other institutional investors own 53.88% of the company’s stock.
Pan American Silver Corp. (NASDAQ:PAAS) opened at 17.12 on Tuesday. The firm’s 50-day moving average price is $17.91 and its 200 day moving average price is $17.29. Pan American Silver Corp. has a 12-month low of $13.80 and a 12-month high of $21.29. The firm has a market cap of $2.62 billion, a P/E ratio of 21.89 and a beta of 0.15.
Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, August 9th. The basic materials company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $201.30 million for the quarter, compared to analyst estimates of $184.96 million. Pan American Silver Corp. had a net margin of 14.62% and a return on equity of 6.16%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share. Analysts forecast that Pan American Silver Corp. will post $0.55 earnings per share for the current fiscal year.
A number of brokerages have recently commented on PAAS. BidaskClub lowered Pan American Silver Corp. from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. BMO Capital Markets restated a “hold” rating and issued a $17.50 target price on shares of Pan American Silver Corp. in a report on Wednesday, September 20th. Royal Bank Of Canada set a $22.00 target price on Pan American Silver Corp. and gave the stock a “buy” rating in a research report on Thursday, August 10th. TheStreet cut Pan American Silver Corp. from a “b-” rating to a “c+” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research downgraded Pan American Silver Corp. from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $21.10.
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About Pan American Silver Corp.
Pan American Silver Corp. is a silver production company. The Company is principally engaged in the operation and development of, and exploration for, silver producing properties. The Company’s segments include Peru, Mexico, Argentina and Bolivia. The Company also produces and sells gold, zinc, lead and copper.
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