Legend Financial Advisors Inc. Takes Position in Pan American Silver Corp. $PAAS

Legend Financial Advisors Inc. purchased a new stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the 2nd quarter, HoldingsChannel reports. The fund purchased 31,091 shares of the basic materials company’s stock, valued at approximately $883,000. Pan American Silver accounts for 0.6% of Legend Financial Advisors Inc.’s investment portfolio, making the stock its 24th largest position.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Pan American Silver by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 14,146,213 shares of the basic materials company’s stock worth $365,397,000 after acquiring an additional 138,028 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Pan American Silver by 11.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,029,241 shares of the basic materials company’s stock worth $233,225,000 after acquiring an additional 959,859 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Pan American Silver by 2.1% during the first quarter. Invesco Ltd. now owns 6,029,828 shares of the basic materials company’s stock worth $155,750,000 after acquiring an additional 121,764 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Pan American Silver by 319.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,451,864 shares of the basic materials company’s stock valued at $115,009,000 after buying an additional 3,389,549 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Pan American Silver by 21.2% during the first quarter. Ameriprise Financial Inc. now owns 3,811,684 shares of the basic materials company’s stock valued at $98,510,000 after buying an additional 665,502 shares in the last quarter. 55.43% of the stock is owned by institutional investors.

Pan American Silver Stock Up 1.1%

PAAS stock opened at $36.80 on Friday. Pan American Silver Corp. has a twelve month low of $19.80 and a twelve month high of $38.41. The company has a market cap of $15.53 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 0.58 and a beta of 0.65. The business’s 50-day simple moving average is $32.54 and its 200 day simple moving average is $28.45. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, August 18th. This is a positive change 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 1.3%. Pan American Silver’s dividend payout ratio (DPR) is presently 33.10%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PAAS shares. Wall Street Zen lowered Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 16th. National Bank Financial upgraded Pan American Silver to a “strong-buy” rating in a research note on Thursday, September 4th. National Bankshares restated an “outperform” rating on shares of Pan American Silver in a research note on Friday, September 5th. CIBC restated an “outperform” rating on shares of Pan American Silver in a research note on Tuesday, July 15th. Finally, Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.20.

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.