Ninepoint Partners LP Takes $7.22 Million Position in Pan American Silver Corp. $PAAS

Ninepoint Partners LP acquired a new stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 161,306 shares of the basic materials company’s stock, valued at approximately $7,225,000. Pan American Silver makes up approximately 0.6% of Ninepoint Partners LP’s portfolio, making the stock its 27th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp grew its position in shares of Pan American Silver by 1,336.1% during the 1st quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 481 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after buying an additional 387 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Pan American Silver during the fourth quarter worth about $34,000. Danske Bank A S bought a new position in Pan American Silver in the 2nd quarter worth about $30,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Pan American Silver in the 4th quarter valued at about $41,000. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Pan American Silver Stock Performance

Pan American Silver stock opened at $51.95 on Friday. The firm has a fifty day simple moving average of $46.22 and a two-hundred day simple moving average of $52.75. Pan American Silver Corp. has a twelve month low of $31.16 and a twelve month high of $69.99. The company has a market capitalization of $21.67 billion, a PE ratio of 15.69, a P/E/G ratio of 4.67 and a beta of 0.73. The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.11). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The firm’s quarterly revenue was up 38.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 EPS. Research analysts expect that Pan American Silver Corp. will post 4.03 EPS for the current year.

Pan American Silver Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be issued a $0.184 dividend. This is a boost from Pan American Silver’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.74 dividend on an annualized basis and a yield of 1.4%. Pan American Silver’s payout ratio is 21.75%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PAAS shares. Weiss Ratings downgraded shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Jefferies Financial Group dropped their price target on Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a research note on Monday, July 6th. TD Securities upgraded Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Monday, May 11th. Royal Bank Of Canada reiterated an “outperform” rating and set a $75.00 price objective on shares of Pan American Silver in a research report on Tuesday, April 28th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Pan American Silver in a research report on Thursday, August 13th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

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.