NewEdge Advisors LLC Sells 17,289 Shares of Pan American Silver Corp. $PAAS

NewEdge Advisors LLC lessened its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 42.2% in the first quarter, HoldingsChannel reports. The fund owned 23,658 shares of the basic materials company’s stock after selling 17,289 shares during the quarter. NewEdge Advisors LLC’s holdings in Pan American Silver were worth $1,292,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PAAS. Parallel Advisors LLC raised 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 worth $25,000 after purchasing an additional 387 shares during the period. Fifth Third Bancorp lifted 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. Caitong International Asset Management Co. Ltd acquired a new stake in Pan American Silver in the 4th quarter valued at $34,000. Laurel Wealth Advisors LLC acquired a new stake in Pan American Silver in the 4th quarter valued at $41,000. Finally, Golden State Wealth Management LLC increased its stake in Pan American Silver by 173.3% during the 4th quarter. Golden State Wealth Management LLC now owns 820 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 520 shares in the last quarter. Institutional investors own 55.43% of the company’s stock.

Wall Street Analysts Forecast Growth

PAAS has been the topic of several research reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pan American Silver in a research note on Thursday. Jefferies Financial Group decreased their target price on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Weiss Ratings downgraded shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Bank of America lowered their target price on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Zacks Research cut shares of Pan American Silver from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.43.

Pan American Silver Trading Down 0.0%

Shares of Pan American Silver stock opened at $47.41 on Monday. The stock has a fifty day simple moving average of $45.95 and a 200 day simple moving average of $53.10. Pan American Silver Corp. has a 12-month low of $30.59 and a 12-month high of $69.99. The company has a market capitalization of $19.77 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 4.10 and a beta of 0.73. The company has a current ratio of 2.94, a quick ratio of 2.23 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the business posted $0.43 earnings per share. Pan American Silver’s revenue was up 38.4% on a year-over-year basis. On average, sell-side analysts anticipate that Pan American Silver Corp. will post 4.11 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be issued a $0.184 dividend. This is an increase from Pan American Silver’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, August 24th. Pan American Silver’s dividend payout ratio is currently 21.75%.

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.