TD Asset Management Inc Increases Stock Position in Pan American Silver Corp. (NYSE:PAAS)

TD Asset Management Inc raised its holdings in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 71.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,971,544 shares of the basic materials company’s stock after purchasing an additional 823,390 shares during the period. TD Asset Management Inc owned 0.54% of Pan American Silver worth $50,917,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Signaturefd LLC raised its position in shares of Pan American Silver by 8.1% in the first quarter. Signaturefd LLC now owns 8,567 shares of the basic materials company’s stock valued at $221,000 after buying an additional 643 shares during the last quarter. Evergreen Capital Management LLC raised its position in shares of Pan American Silver by 2.4% in the fourth quarter. Evergreen Capital Management LLC now owns 30,203 shares of the basic materials company’s stock valued at $611,000 after buying an additional 715 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Pan American Silver by 39.8% in the first quarter. Farther Finance Advisors LLC now owns 2,720 shares of the basic materials company’s stock valued at $70,000 after buying an additional 775 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Pan American Silver by 3.2% in the first quarter. Envestnet Asset Management Inc. now owns 33,916 shares of the basic materials company’s stock valued at $876,000 after buying an additional 1,054 shares during the last quarter. Finally, Graybill Wealth Management LTD. acquired a new position in shares of Pan American Silver in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Analyst Upgrades and Downgrades

PAAS has been the subject of a number of analyst reports. National Bankshares reissued an “outperform” rating on shares of Pan American Silver in a research report on Wednesday, April 2nd. TD Securities cut their price objective on shares of Pan American Silver from $30.00 to $26.00 and set a “hold” rating for the company in a research report on Thursday, May 22nd. BMO Capital Markets initiated coverage on shares of Pan American Silver in a research report on Wednesday, April 16th. They issued a “market perform” rating for the company. Wall Street Zen raised shares of Pan American Silver from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 15th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Pan American Silver in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.40.

Pan American Silver Stock Performance

Shares of PAAS stock opened at $28.51 on Tuesday. Pan American Silver Corp. has a one year low of $17.86 and a one year high of $31.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.94 and a current ratio of 2.93. The company has a 50 day moving average price of $27.94 and a 200 day moving average price of $25.65. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 32.77, a price-to-earnings-growth ratio of 0.41 and a beta of 0.67.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.19 by $0.23. Pan American Silver had a net margin of 10.45% and a return on equity of 9.25%. The firm had revenue of $773.20 million during the quarter, compared to analyst estimates of $696.62 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. Pan American Silver’s revenue for the quarter was up 28.6% compared to the same quarter last year. Sell-side analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 20th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Tuesday, May 20th. Pan American Silver’s payout ratio is currently 45.98%.

About Pan American Silver

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.