Van ECK Associates Corp Has $854.03 Million Stake in Pan American Silver Corp. $PAAS

Van ECK Associates Corp cut its stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 11.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,066,671 shares of the basic materials company’s stock after selling 2,460,257 shares during the quarter. Van ECK Associates Corp’s holdings in Pan American Silver were worth $854,035,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PAAS. BlackRock Inc. bought a new position in shares of Pan American Silver during the second quarter worth about $375,948,000. Norges Bank acquired a new stake in Pan American Silver during the 4th quarter valued at approximately $303,611,000. 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. Capital International Investors acquired a new position in shares of Pan American Silver in the 4th quarter worth approximately $215,484,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Pan American Silver in the 2nd quarter worth approximately $145,312,000. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Trading Down 3.4%

NYSE:PAAS opened at $53.00 on Friday. Pan American Silver Corp. has a 12 month low of $32.95 and a 12 month high of $69.99. The company has a current ratio of 2.94, a quick ratio of 2.23 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $22.10 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 5.12 and a beta of 0.73. The firm has a fifty day simple moving average of $46.65 and a two-hundred day simple moving average of $52.70.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%.Pan American Silver’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same period last year, the company earned $0.43 EPS. Analysts expect that Pan American Silver Corp. will post 4.02 EPS for the current fiscal year.

Pan American Silver Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on PAAS. Scotiabank reiterated an “outperform” rating on shares of Pan American Silver in a research report on Tuesday, July 14th. TD Securities upgraded Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Monday, May 11th. BMO Capital Markets reissued a “market perform” rating on shares of Pan American Silver in a research report on Thursday, August 13th. Wall Street Zen lowered Pan American Silver from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and raised their target price for the stock from $67.00 to $72.00 in a research note on Tuesday, May 12th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.43.

Pan American Silver 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.