Man Group plc Acquires New Stake in Pan American Silver Corp. $PAAS

Man Group plc bought a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,380,804 shares of the basic materials company’s stock, valued at approximately $106,636,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAAS. Vanguard Group Inc. grew its position in shares of Pan American Silver by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company’s stock valued at $905,513,000 after buying an additional 274,168 shares during the last quarter. Invesco Ltd. boosted its holdings in Pan American Silver by 9.8% in the third quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company’s stock valued at $383,365,000 after acquiring an additional 882,135 shares during the last quarter. BlackRock Inc. acquired a new stake in Pan American Silver during the 2nd quarter valued at approximately $375,948,000. FIL Ltd raised its holdings in Pan American Silver by 154.7% during the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock worth $378,872,000 after purchasing an additional 4,438,478 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Pan American Silver in the 4th quarter worth approximately $303,611,000. 55.43% of the stock is owned by institutional investors and hedge funds.

Pan American Silver Stock Up 0.9%

Pan American Silver stock opened at $54.14 on Wednesday. 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 Corp. has a 12-month low of $32.32 and a 12-month high of $69.99. The firm’s fifty day moving average is $46.41 and its 200 day moving average is $52.70. The company has a market capitalization of $22.58 billion, a PE ratio of 16.36, a PEG ratio of 4.95 and a beta of 0.73.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.11). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate 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 revenue was up 38.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 earnings per share. As a group, sell-side analysts predict that Pan American Silver Corp. will post 4.06 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.184 per share. This is an increase from Pan American Silver’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, August 24th. Pan American Silver’s dividend payout ratio (DPR) is currently 22.36%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $75.00 target price on shares of Pan American Silver in a research note on Tuesday, April 28th. Scotiabank reissued an “outperform” rating on shares of Pan American Silver in a research report on Tuesday, July 14th. Zacks Research raised Pan American Silver from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. BMO Capital Markets restated a “market perform” rating on shares of Pan American Silver in a research report on Thursday, August 13th. Finally, Jefferies Financial Group decreased their target price 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. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.43.

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.