Korea Investment CORP Acquires Shares of 22,988 Pan American Silver Corp. $PAAS

Korea Investment CORP acquired a new stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,988 shares of the basic materials company’s stock, valued at approximately $1,030,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Pan American Silver in the second quarter worth about $375,948,000. Norges Bank purchased a new position in Pan American Silver during the 4th quarter valued at about $303,611,000. FIL Ltd raised its position in Pan American Silver by 154.7% during 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 purchased a new stake in Pan American Silver in the 4th quarter worth approximately $215,484,000. Finally, Bank of America Corp DE lifted its holdings in Pan American Silver by 148.3% in the 2nd 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. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Price Performance

Shares of PAAS stock opened at $54.14 on Wednesday. The stock has a market cap of $22.58 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 4.95 and a beta of 0.73. The business’s fifty day moving average is $46.41 and its 200 day moving average is $52.70. Pan American Silver Corp. has a twelve month low of $32.32 and a twelve month high of $69.99. 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 (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings data 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 firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.16 billion. Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.Pan American Silver’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. Research analysts expect that Pan American Silver Corp. will post 4.06 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.4%. The ex-dividend date 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 (DPR) is 22.36%.

Analyst Upgrades and Downgrades

PAAS has been the topic of several research analyst reports. TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Monday, May 11th. Bank of America cut their price target on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group reduced their price objective on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. Wall Street Zen lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Pan American Silver in a research report on Thursday, August 13th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

Pan American Silver Company 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.