Lombard Odier Asset Management Europe Ltd Cuts Stock Holdings in Pan American Silver Corp. $PAAS

Lombard Odier Asset Management Europe Ltd decreased its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 21.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,993 shares of the basic materials company’s stock after selling 51,700 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Pan American Silver were worth $10,161,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP bought a new position in shares of Pan American Silver during the first quarter valued at about $9,282,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Pan American Silver in the 1st quarter worth about $6,182,000. Renaissance Technologies LLC bought a new stake in Pan American Silver in the 1st quarter worth about $71,141,000. Gabelli Funds LLC increased its stake in Pan American Silver by 4.3% in the 1st quarter. Gabelli Funds LLC now owns 662,100 shares of the basic materials company’s stock valued at $36,171,000 after buying an additional 27,400 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Pan American Silver by 9.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 40,520 shares of the basic materials company’s stock valued at $2,214,000 after buying an additional 3,580 shares during the last quarter. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Performance

Shares of PAAS stock opened at $44.03 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84. The firm has a market cap of $18.36 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 3.89 and a beta of 0.72. Pan American Silver Corp. has a 52 week low of $26.76 and a 52 week high of $69.99. The firm’s 50-day simple moving average is $48.07 and its two-hundred day simple moving average is $54.17.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, beating 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 firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm earned $0.42 EPS. The company’s revenue was up 49.3% compared to the same quarter last year. As a group, equities analysts forecast that Pan American Silver Corp. will post 4.02 earnings per share for the current year.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were paid a $0.18 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.72 annualized dividend and a yield of 1.6%. Pan American Silver’s dividend payout ratio is presently 23.15%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PAAS shares. Jefferies Financial Group dropped their target price on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. Weiss Ratings downgraded Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Wall Street Zen lowered Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Zacks Research cut Pan American Silver from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Finally, TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned 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.

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.