Renaissance Technologies LLC Purchases New Position in Pan American Silver Corp. $PAAS

Renaissance Technologies LLC acquired a new position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,302,226 shares of the basic materials company’s stock, valued at approximately $71,141,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PAAS. Parallel Advisors LLC grew its position 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. Fifth Third Bancorp raised its holdings in shares of Pan American Silver by 1,336.1% in the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 481 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Pan American Silver in the fourth quarter valued at about $34,000. Laurel Wealth Advisors LLC purchased a new stake in Pan American Silver in the fourth quarter worth about $41,000. Finally, Golden State Wealth Management LLC lifted its stake in Pan American Silver by 173.3% in the fourth quarter. Golden State Wealth Management LLC now owns 820 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 520 shares during the period. 55.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PAAS. Jefferies Financial Group reduced 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. 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. Zacks Research lowered Pan American Silver from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. 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 report on Monday, May 11th. Finally, Weiss Ratings downgraded Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.43.

Pan American Silver Stock Down 0.0%

NYSE:PAAS opened at $44.03 on Monday. The company has a market cap of $18.36 billion, a PE ratio of 14.16, a P/E/G ratio of 3.90 and a beta of 0.72. Pan American Silver Corp. has a twelve month low of $26.76 and a twelve month high of $69.99. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $48.07 and its two-hundred day moving average is $54.18.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the company posted $0.42 earnings per share. The business’s quarterly revenue was up 49.3% on a year-over-year basis. Analysts anticipate that Pan American Silver Corp. will post 4.02 EPS for the current year.

Pan American Silver Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 yield of 1.6%. Pan American Silver’s payout ratio is currently 23.15%.

About Pan American Silver

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.