Legal & General Group Plc Purchases New Shares in Pan American Silver Corp. $PAAS

Legal & General Group Plc bought a new stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,383,228 shares of the basic materials company’s stock, valued at approximately $106,698,000. Legal & General Group Plc owned approximately 0.57% of Pan American Silver at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NFJ Investment Group LLC purchased a new stake in shares of Pan American Silver in the 2nd quarter worth about $25,000. Parallel Advisors LLC increased its position in shares of Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 387 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Pan American Silver by 1,336.1% in the 1st quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 481 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Pan American Silver during the second quarter valued at $30,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Pan American Silver during the fourth quarter valued at $34,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Stock Performance

PAAS stock opened at $54.97 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. Pan American Silver Corp. has a 1 year low of $32.46 and a 1 year high of $69.99. The company has a market cap of $22.93 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 4.86 and a beta of 0.73. The stock’s fifty day moving average price is $46.57 and its 200-day moving average price is $52.70.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.11). Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the company posted $0.43 EPS. The firm’s revenue was up 38.4% compared to the same quarter last year. On average, equities analysts forecast that Pan American Silver Corp. will post 4.06 earnings per share for the current year.

Pan American Silver Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.184 per share. The ex-dividend date is Monday, August 24th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Pan American Silver’s previous quarterly dividend of $0.18. Pan American Silver’s dividend payout ratio is presently 22.36%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PAAS. Zacks Research upgraded Pan American Silver from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Jefferies Financial Group lowered their target price on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. Wall Street Zen downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Bank of America reduced their price target 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. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pan American Silver in a report on Thursday, August 13th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $70.43.

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.