PVG Asset Management Corp Increases Stake in Pan American Silver Corp. $PAAS

PVG Asset Management Corp lifted its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 500.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 55,443 shares of the basic materials company’s stock after purchasing an additional 46,210 shares during the quarter. Pan American Silver accounts for about 2.0% of PVG Asset Management Corp’s holdings, making the stock its 10th largest holding. PVG Asset Management Corp’s holdings in Pan American Silver were worth $2,826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PAAS. Fifth Third Bancorp boosted its stake in Pan American Silver by 1,336.1% in the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock worth $28,000 after buying an additional 481 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 387 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Pan American Silver during the fourth quarter worth approximately $34,000. Laurel Wealth Advisors LLC bought a new stake in shares of Pan American Silver in the 4th quarter worth approximately $41,000. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Pan American Silver in the 1st quarter worth approximately $44,000. Institutional investors own 55.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PAAS shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $75.00 target price on shares of Pan American Silver in a report on Tuesday, April 28th. TD Securities upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Monday, May 11th. TD Cowen upgraded Pan American Silver from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $72.00 in a report on Tuesday, May 12th. Scotiabank reissued an “outperform” rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Finally, Wall Street Zen cut Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.43.

Pan American Silver Trading Down 0.1%

NYSE:PAAS opened at $43.08 on Monday. The firm has a market capitalization of $17.97 billion, a P/E ratio of 13.85, a P/E/G ratio of 3.70 and a beta of 0.73. The company has a quick ratio of 2.11, a current ratio of 2.84 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $46.98 and a 200 day moving average of $53.79. Pan American Silver Corp. has a 52 week low of $26.76 and a 52 week high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm earned $0.42 EPS. The company’s revenue was up 49.3% on a year-over-year basis. On average, research analysts predict that Pan American Silver Corp. will post 4.15 earnings per share for the current year.

Pan American Silver Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, May 19th. Pan American Silver’s payout ratio is currently 23.15%.

About Pan American Silver

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.