Legal & General Group Plc Purchases 163,790 Shares of Pan American Silver Corp. $PAAS

Legal & General Group Plc lifted its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 6.4% in the 4th quarter, Holdings Channel reports. The fund owned 2,730,291 shares of the basic materials company’s stock after buying an additional 163,790 shares during the quarter. Legal & General Group Plc’s holdings in Pan American Silver were worth $142,743,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PAAS. Van ECK Associates Corp grew its stake in shares of Pan American Silver by 51.8% during the 3rd quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company’s stock worth $1,748,355,000 after acquiring an additional 15,405,762 shares during the period. First Eagle Investment Management LLC bought a new position in shares of Pan American Silver during the 3rd quarter worth $178,004,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Pan American Silver by 38.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company’s stock worth $560,149,000 after acquiring an additional 4,037,311 shares during the period. Vanguard Group Inc. grew its stake in shares of Pan American Silver by 21.2% during the 3rd quarter. Vanguard Group Inc. now owns 17,191,611 shares of the basic materials company’s stock worth $666,192,000 after acquiring an additional 3,006,055 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Pan American Silver by 148.3% during the 2nd quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock worth $95,658,000 after acquiring an additional 2,011,862 shares during the period. Institutional investors own 55.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PAAS shares. Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a report on Tuesday, May 12th. TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $72.00 in a report on Tuesday, May 12th. Zacks Research cut Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. TD Securities raised shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Monday, May 11th. Finally, Wall Street Zen raised shares of Pan American Silver from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Pan American Silver presently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Pan American Silver Price Performance

Shares of NYSE:PAAS opened at $55.29 on Friday. The company has a 50 day moving average of $55.16 and a 200 day moving average of $53.98. Pan American Silver Corp. has a 12 month low of $23.88 and a 12 month high of $69.99. The stock has a market cap of $23.30 billion, a P/E ratio of 17.78, a P/E/G ratio of 0.42 and a beta of 0.65. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the firm posted $0.42 EPS. The company’s revenue was up 49.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Pan American Silver Corp. will post 4.65 EPS for the current fiscal year.

Pan American Silver Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. Pan American Silver’s dividend payout ratio (DPR) is presently 23.15%.

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.