Cardinal Point Capital Management ULC Trims Stake in Pan American Silver Corp. $PAAS

Cardinal Point Capital Management ULC reduced its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 14.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,901 shares of the basic materials company’s stock after selling 2,500 shares during the period. Cardinal Point Capital Management ULC’s holdings in Pan American Silver were worth $422,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PAAS. Connor Clark & Lunn Investment Management Ltd. grew its position in Pan American Silver by 319.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,451,864 shares of the basic materials company’s stock worth $115,009,000 after acquiring an additional 3,389,549 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Pan American Silver by 11.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,029,241 shares of the basic materials company’s stock worth $233,225,000 after acquiring an additional 959,859 shares in the last quarter. Driehaus Capital Management LLC grew its position in Pan American Silver by 77.2% in the first quarter. Driehaus Capital Management LLC now owns 2,151,187 shares of the basic materials company’s stock worth $55,565,000 after acquiring an additional 937,126 shares in the last quarter. TD Asset Management Inc grew its position in Pan American Silver by 71.7% in the first quarter. TD Asset Management Inc now owns 1,971,544 shares of the basic materials company’s stock worth $50,917,000 after acquiring an additional 823,390 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Pan American Silver by 21.2% in the first quarter. Ameriprise Financial Inc. now owns 3,811,684 shares of the basic materials company’s stock worth $98,510,000 after acquiring an additional 665,502 shares in the last quarter. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. National Bank Financial upgraded shares of Pan American Silver to a “strong-buy” rating in a research report on Thursday, September 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a research note on Tuesday, October 14th. Wall Street Zen downgraded shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Scotiabank boosted their price target on shares of Pan American Silver from $36.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Zacks Research downgraded shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Pan American Silver Price Performance

Shares of Pan American Silver stock opened at $36.36 on Friday. The business has a 50 day moving average of $36.38 and a 200 day moving average of $30.41. Pan American Silver Corp. has a 52 week low of $19.80 and a 52 week high of $42.57. The company has a market cap of $15.35 billion, a PE ratio of 25.08, a P/E/G ratio of 0.46 and a beta of 0.63. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The business had revenue of $811.90 million for the quarter, compared to the consensus estimate of $782.12 million. During the same period in the previous year, the firm earned $0.11 EPS. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, equities research analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.12 per share. This is an increase from Pan American Silver’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, August 18th. Pan American Silver’s dividend payout ratio is presently 33.10%.

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.