Ameriprise Financial Inc. Grows Position in Pan American Silver Corp. (NYSE:PAAS)

Ameriprise Financial Inc. boosted its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 18.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,146,182 shares of the basic materials company’s stock after buying an additional 486,622 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.87% of Pan American Silver worth $63,658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PAAS. Parvin Asset Management LLC purchased a new stake in shares of Pan American Silver during the fourth quarter worth about $705,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Pan American Silver in the 4th quarter worth approximately $222,000. Northern Trust Corp increased its stake in shares of Pan American Silver by 210.1% during the fourth quarter. Northern Trust Corp now owns 83,871 shares of the basic materials company’s stock valued at $1,696,000 after buying an additional 56,826 shares during the period. Oxford Asset Management LLP raised its holdings in shares of Pan American Silver by 169.5% during the fourth quarter. Oxford Asset Management LLP now owns 64,242 shares of the basic materials company’s stock valued at $1,299,000 after acquiring an additional 40,404 shares in the last quarter. Finally, Cheviot Value Management LLC lifted its stake in Pan American Silver by 1.0% in the fourth quarter. Cheviot Value Management LLC now owns 194,382 shares of the basic materials company’s stock worth $3,930,000 after acquiring an additional 1,952 shares during the period. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Performance

Shares of Pan American Silver stock opened at $27.20 on Friday. Pan American Silver Corp. has a 1 year low of $17.86 and a 1 year high of $28.60. The firm’s 50-day moving average is $25.31 and its 200 day moving average is $23.58. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 85.00 and a beta of 0.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 0.96.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.23. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The firm had revenue of $773.20 million for the quarter, compared to the consensus estimate of $696.62 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The business’s revenue was up 28.6% on a year-over-year basis. Sell-side analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Tuesday, May 20th. Pan American Silver’s payout ratio is currently 125.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. National Bankshares reaffirmed an “outperform” rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. Scotiabank reiterated a “sector perform” rating on shares of Pan American Silver in a report on Monday, April 14th. TD Securities cut Pan American Silver from a “buy” rating to a “hold” rating and lowered their target price for the company from $28.00 to $27.00 in a research note on Tuesday, March 11th. CIBC increased their price objective on Pan American Silver from $38.00 to $42.00 and gave the stock an “outperformer” rating in a report on Thursday. Finally, Royal Bank of Canada boosted their target price on shares of Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Pan American Silver presently has an average rating of “Hold” and a consensus price target of $29.67.

Pan American Silver Company Profile

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.