Perpetual Ltd Sells 38,927 Shares of Pan American Silver Corp. (NYSE:PAAS)

Perpetual Ltd lessened its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 447,720 shares of the basic materials company’s stock after selling 38,927 shares during the quarter. Perpetual Ltd owned about 0.12% of Pan American Silver worth $9,344,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PAAS. Goehring & Rozencwajg Associates LLC grew its holdings in Pan American Silver by 3.5% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 205,191 shares of the basic materials company’s stock worth $3,351,000 after acquiring an additional 6,965 shares during the period. GeoSphere Capital Management LLC increased its holdings in Pan American Silver by 3.9% in the fourth quarter. GeoSphere Capital Management LLC now owns 400,000 shares of the basic materials company’s stock valued at $6,532,000 after purchasing an additional 15,000 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Pan American Silver in the fourth quarter valued at about $295,000. Vanguard Group Inc. boosted its holdings in Pan American Silver by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 13,065,572 shares of the basic materials company’s stock worth $213,361,000 after buying an additional 176,979 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Pan American Silver by 10.3% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 203,641 shares of the basic materials company’s stock worth $3,325,000 after buying an additional 18,979 shares during the last quarter. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Performance

PAAS opened at $22.46 on Friday. Pan American Silver Corp. has a fifty-two week low of $12.16 and a fifty-two week high of $24.27. The stock has a fifty day moving average of $20.59 and a 200-day moving average of $20.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.92.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The company had revenue of $686.30 million for the quarter, compared to analyst estimates of $696.08 million. Pan American Silver had a positive return on equity of 0.66% and a negative net margin of 5.54%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. On average, research analysts forecast that Pan American Silver Corp. will post 0.64 EPS for the current year.

Pan American Silver Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.40 annualized dividend and a dividend yield of 1.78%. Pan American Silver’s dividend payout ratio is -102.56%.

Analyst Ratings Changes

PAAS has been the topic of several research analyst reports. CIBC raised their price objective on Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank raised their target price on shares of Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 16th. Royal Bank of Canada boosted their price target on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group upped their target price on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Pan American Silver currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.93.

Pan American Silver Profile

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.