Van ECK Associates Corp Buys 15,405,762 Shares of Pan American Silver Corp. $PAAS

Van ECK Associates Corp increased its stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 51.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,142,060 shares of the basic materials company’s stock after acquiring an additional 15,405,762 shares during the period. Pan American Silver comprises about 1.6% of Van ECK Associates Corp’s portfolio, making the stock its 12th largest position. Van ECK Associates Corp owned about 0.11% of Pan American Silver worth $1,748,355,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 387 shares in the last quarter. Rothschild Investment LLC bought a new position in Pan American Silver in the third quarter valued at $36,000. City State Bank increased its stake in Pan American Silver by 74.4% in the 3rd quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock valued at $40,000 after buying an additional 435 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Pan American Silver by 93.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock valued at $40,000 after buying an additional 497 shares during the last quarter. Finally, Assetmark Inc. lifted its position in Pan American Silver by 3,111.4% during the 3rd quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock worth $44,000 after buying an additional 1,089 shares in the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PAAS shares. Jefferies Financial Group reduced their price objective on shares of Pan American Silver from $58.00 to $54.00 and set a “hold” rating for the company in a research note on Wednesday, January 21st. Bank of America upped their target price on Pan American Silver from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. Scotiabank raised their price target on Pan American Silver from $47.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Wall Street Zen raised Pan American Silver from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 22nd. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.60.

Pan American Silver Stock Up 1.8%

PAAS stock opened at $60.63 on Tuesday. The business’s 50 day simple moving average is $58.61 and its 200 day simple moving average is $46.45. Pan American Silver Corp. has a 1-year low of $20.55 and a 1-year high of $69.99. The firm has a market capitalization of $25.58 billion, a PE ratio of 24.25, a PEG ratio of 0.55 and a beta of 0.61. The company has a current ratio of 2.69, a quick ratio of 1.97 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.90 by $0.21. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.11 billion. Pan American Silver had a net margin of 27.07% and a return on equity of 16.38%. The company’s quarterly revenue was up 44.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, research analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be paid a $0.18 dividend. This is an increase from Pan American Silver’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. Pan American Silver’s dividend payout ratio (DPR) is currently 28.80%.

Pan American Silver 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.