Pan American Silver Corp. $PAAS Holdings Cut by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. reduced its stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 10.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,285 shares of the basic materials company’s stock after selling 19,427 shares during the period. Rockefeller Capital Management L.P.’s holdings in Pan American Silver were worth $4,865,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in Pan American Silver by 3.2% during the first quarter. Envestnet Asset Management Inc. now owns 33,916 shares of the basic materials company’s stock valued at $876,000 after purchasing an additional 1,054 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Pan American Silver by 96.2% during the 1st quarter. Allianz Asset Management GmbH now owns 71,638 shares of the basic materials company’s stock worth $1,850,000 after purchasing an additional 35,124 shares in the last quarter. Choreo LLC acquired a new stake in shares of Pan American Silver during the 1st quarter valued at about $284,000. Brookwood Investment Group LLC acquired a new stake in shares of Pan American Silver during the 1st quarter valued at about $238,000. Finally, Cetera Investment Advisers grew its stake in shares of Pan American Silver by 11.3% in the 1st quarter. Cetera Investment Advisers now owns 229,680 shares of the basic materials company’s stock valued at $5,933,000 after buying an additional 23,303 shares in the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAAS has been the topic of several recent research reports. Wall Street Zen lowered shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Zacks Research downgraded shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. CIBC upped their price objective on shares of Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a research report on Monday. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Pan American Silver in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Pan American Silver Price Performance

NYSE PAAS opened at $36.72 on Friday. Pan American Silver Corp. has a 1 year low of $19.80 and a 1 year high of $42.57. The company has a fifty day simple moving average of $37.37 and a 200 day simple moving average of $31.93. The company has a current ratio of 3.05, a quick ratio of 2.11 and a debt-to-equity ratio of 0.15. The company has a market cap of $15.50 billion, a P/E ratio of 25.32, a P/E/G ratio of 0.44 and a beta of 0.63.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, November 12th. The basic materials company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The firm had revenue of $854.60 million during the quarter, compared to the consensus estimate of $867.76 million. During the same quarter last year, the business earned $0.32 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts predict that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 24th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, November 24th. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.12. Pan American Silver’s payout ratio is presently 32.37%.

Pan American Silver Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.