Rossby Financial LCC Has $152,000 Holdings in Pan American Silver Corp. $PAAS

Rossby Financial LCC decreased its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 10.1% in the second quarter, Holdings Channel reports. The fund owned 5,339 shares of the basic materials company’s stock after selling 600 shares during the period. Rossby Financial LCC’s holdings in Pan American Silver were worth $152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vontobel Holding Ltd. acquired a new position in Pan American Silver during the 2nd quarter worth $2,521,000. Concurrent Investment Advisors LLC acquired a new position in Pan American Silver during the 1st quarter worth $222,000. D.A. Davidson & CO. acquired a new position in Pan American Silver during the 1st quarter worth $358,000. Intech Investment Management LLC lifted its position in Pan American Silver by 189.0% during the 1st quarter. Intech Investment Management LLC now owns 107,952 shares of the basic materials company’s stock worth $2,788,000 after acquiring an additional 70,593 shares during the last quarter. Finally, Triasima Portfolio Management inc. lifted its position in Pan American Silver by 29.1% during the 2nd quarter. Triasima Portfolio Management inc. now owns 211,010 shares of the basic materials company’s stock worth $5,975,000 after acquiring an additional 47,500 shares during the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

Wall Street Analysts Forecast Growth

PAAS has been the subject of a number of research analyst reports. Zacks Research lowered shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. CIBC boosted their target price on shares of Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Wall Street Zen lowered shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. National Bank Financial upgraded shares of Pan American Silver to a “strong-buy” rating in a research note on Thursday, September 4th. Finally, Scotiabank lifted their target price on Pan American Silver from $36.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.25.

Pan American Silver Stock Up 1.4%

PAAS stock opened at $35.20 on Wednesday. Pan American Silver Corp. has a twelve month low of $19.80 and a twelve month high of $42.57. The company has a market cap of $14.86 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. The business’s 50-day simple moving average is $36.53 and its 200 day simple moving average is $30.66. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its earnings results on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The business had revenue of $811.90 million for the quarter, compared to the consensus estimate of $782.12 million. During the same period last year, the business earned $0.11 earnings per share. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, research analysts anticipate that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 18th. This is an increase from Pan American Silver’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 1.4%. Pan American Silver’s payout ratio is presently 33.10%.

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.