Norges Bank Invests $303.61 Million in Pan American Silver Corp. $PAAS

Norges Bank purchased a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 4th quarter, Holdings Channel reports. The firm purchased 5,858,647 shares of the basic materials company’s stock, valued at approximately $303,611,000.

Several other hedge funds also recently made changes to their positions in PAAS. Van ECK Associates Corp grew its stake in shares of Pan American Silver by 51.8% in the third quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company’s stock valued at $1,748,355,000 after buying an additional 15,405,762 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of Pan American Silver in the third quarter valued at $178,004,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Pan American Silver by 38.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company’s stock valued at $560,149,000 after buying an additional 4,037,311 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Pan American Silver by 21.2% in the third quarter. Vanguard Group Inc. now owns 17,191,611 shares of the basic materials company’s stock valued at $666,192,000 after buying an additional 3,006,055 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Pan American Silver by 148.3% in the second quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock valued at $95,658,000 after buying an additional 2,011,862 shares in the last quarter. 55.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PAAS. Royal Bank Of Canada reissued an “outperform” rating and issued a $75.00 target price on shares of Pan American Silver in a research note on Tuesday, April 28th. Wall Street Zen cut shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Canadian Imperial Bank of Commerce set a $88.00 target price on shares of Pan American Silver and gave the company an “outperform” rating in a research note on Wednesday, February 4th. TD Cowen raised shares of Pan American Silver from a “hold” rating to a “buy” rating and raised their target price for the company from $67.00 to $72.00 in a research note on Tuesday, May 12th. Finally, Zacks Research cut shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Pan American Silver presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Pan American Silver Stock Down 2.5%

PAAS stock opened at $55.59 on Tuesday. The company has a market cap of $23.42 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 0.45 and a beta of 0.65. The business has a 50-day simple moving average of $55.41 and a 200 day simple moving average of $54.24. Pan American Silver Corp. has a 52 week low of $24.90 and a 52 week high of $69.99. The company has a quick ratio of 2.11, a current ratio of 2.84 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The business’s quarterly revenue was up 49.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Sell-side analysts anticipate that Pan American Silver Corp. will post 4.65 EPS for the current fiscal year.

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. Pan American Silver’s dividend 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.