Pullen Investment Management LLC Raises Stock Holdings in Pan American Silver Corp. (NYSE:PAAS)

Pullen Investment Management LLC increased its stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 17.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,594 shares of the basic materials company’s stock after purchasing an additional 9,142 shares during the quarter. Pullen Investment Management LLC’s holdings in Pan American Silver were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in shares of Pan American Silver in the third quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Pan American Silver by 943.4% during the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,500 shares during the period. Perritt Capital Management Inc. boosted its holdings in shares of Pan American Silver by 76.9% during the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 1,000 shares during the last quarter. CWM LLC grew its position in shares of Pan American Silver by 31.6% in the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 510 shares during the period. Finally, UniSuper Management Pty Ltd increased its stake in Pan American Silver by 73.3% in the first quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Stock Down 2.5 %

Shares of Pan American Silver stock opened at $24.73 on Friday. The company has a fifty day moving average price of $21.46 and a 200 day moving average price of $20.88. The company has a current ratio of 2.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. Pan American Silver Corp. has a twelve month low of $12.16 and a twelve month high of $26.05. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of -63.41 and a beta of 1.35.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). Pan American Silver had a negative net margin of 5.54% and a positive return on equity of 0.66%. The company had revenue of $686.30 million for the quarter, compared to analysts’ expectations of $696.08 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Pan American Silver Corp. will post 0.67 earnings per share for the current fiscal year.

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a yield of 1.62%. Pan American Silver’s dividend payout ratio is currently -102.56%.

Analysts Set New Price Targets

Several analysts have commented on PAAS shares. Scotiabank lifted their price target on Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 16th. CIBC increased their price target on shares of Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Jefferies Financial Group lifted their price target 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. Finally, Royal Bank of Canada upped their price objective on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Pan American Silver presently has a consensus rating of “Moderate Buy” and an average price target of $24.93.

Pan American Silver Company 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.