Connor Clark & Lunn Investment Management Ltd. Makes New $130.64 Million Investment in Pan American Silver Corp. $PAAS

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,916,962 shares of the basic materials company’s stock, valued at approximately $130,636,000. Connor Clark & Lunn Investment Management Ltd. owned 0.70% of Pan American Silver as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. AQR Capital Management LLC increased its position in shares of Pan American Silver by 48.6% during the 1st quarter. AQR Capital Management LLC now owns 19,529 shares of the basic materials company’s stock worth $504,000 after purchasing an additional 6,391 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Pan American Silver by 574.9% during the first quarter. Jones Financial Companies Lllp now owns 19,518 shares of the basic materials company’s stock worth $504,000 after buying an additional 16,626 shares during the period. Goldman Sachs Group Inc. boosted its stake in Pan American Silver by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,499,343 shares of the basic materials company’s stock worth $38,728,000 after buying an additional 360,283 shares during the period. Empowered Funds LLC acquired a new stake in shares of Pan American Silver during the first quarter valued at about $1,272,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Pan American Silver by 53.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 594 shares during the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. BMO Capital Markets restated a “market perform” rating on shares of Pan American Silver in a report on Thursday, August 13th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $75.00 target price on shares of Pan American Silver in a report on Tuesday, April 28th. Jefferies Financial Group cut their target price on Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. Weiss Ratings cut Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Finally, TD Cowen upgraded Pan American Silver from a “hold” rating to a “buy” rating and raised their price target for the stock from $67.00 to $72.00 in a research report on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Pan American Silver has an average rating of “Moderate Buy” and an average price target of $70.43.

Pan American Silver Stock Up 0.1%

Shares of NYSE:PAAS opened at $53.11 on Monday. The firm has a market capitalization of $22.15 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 4.90 and a beta of 0.73. Pan American Silver Corp. has a 1 year low of $31.60 and a 1 year high of $69.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. The firm’s 50-day moving average is $46.31 and its two-hundred day moving average is $52.74.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted 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 business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The company’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 EPS. Analysts predict that Pan American Silver Corp. will post 4.06 EPS for the current year.

Pan American Silver Increases Dividend

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

Pan American Silver Company 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.