Geode Capital Management LLC Boosts Holdings in Pan American Silver Corp. $PAAS

Geode Capital Management LLC boosted its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 20.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,729,447 shares of the basic materials company’s stock after acquiring an additional 462,204 shares during the quarter. Geode Capital Management LLC’s holdings in Pan American Silver were worth $76,867,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in Pan American Silver by 3.2% in the first quarter. Envestnet Asset Management Inc. now owns 33,916 shares of the basic materials company’s stock valued at $876,000 after acquiring an additional 1,054 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Pan American Silver by 96.2% in 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 during the last quarter. Choreo LLC bought a new stake in shares of Pan American Silver in the 1st quarter worth about $284,000. Brookwood Investment Group LLC acquired a new stake in shares of Pan American Silver in the 1st quarter valued at about $238,000. Finally, Cetera Investment Advisers lifted its position in shares of Pan American Silver by 11.3% during the first quarter. Cetera Investment Advisers now owns 229,680 shares of the basic materials company’s stock worth $5,933,000 after purchasing an additional 23,303 shares during the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PAAS shares. Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a report on Monday, November 17th. Wall Street Zen cut Pan American Silver from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Scotiabank lifted their price objective on shares of Pan American Silver from $36.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Finally, CIBC boosted their target price on shares of Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. One equities research 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. According to MarketBeat.com, Pan American Silver has an average rating of “Moderate Buy” and an average price target of $41.25.

Pan American Silver Price Performance

Shares of PAAS opened at $36.72 on Friday. Pan American Silver Corp. has a 12 month low of $19.80 and a 12 month high of $42.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.05 and a quick ratio of 2.11. The stock has a fifty day moving average price of $37.37 and a 200 day moving average price of $31.98. The company has a market cap of $15.50 billion, a P/E ratio of 25.32, a PEG ratio of 0.44 and a beta of 0.63.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly 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). The firm had revenue of $854.60 million for the quarter, compared to the consensus estimate of $867.76 million. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 EPS. On average, 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 firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 24th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, November 24th. Pan American Silver’s dividend payout ratio is presently 32.37%.

About Pan American Silver

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.