The Manufacturers Life Insurance Company Has $155.68 Million Stock Position in Pan American Silver Corp. $PAAS

The Manufacturers Life Insurance Company cut its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,849,263 shares of the basic materials company’s stock after selling 87,882 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.68% of Pan American Silver worth $155,680,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PAAS. Vanguard Group Inc. lifted its position in Pan American Silver by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company’s stock valued at $905,513,000 after acquiring an additional 274,168 shares in the last quarter. Invesco Ltd. increased its holdings in Pan American Silver by 9.8% during the 3rd quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company’s stock worth $383,365,000 after purchasing an additional 882,135 shares in the last quarter. FIL Ltd raised its stake in shares of Pan American Silver by 154.7% in the fourth 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. Norges Bank purchased a new stake in shares of Pan American Silver in the fourth quarter worth approximately $303,611,000. Finally, Capital International Investors bought a new position in shares of Pan American Silver in the fourth quarter valued at approximately $215,484,000. Institutional investors and hedge funds own 55.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and lifted their target price for the company from $67.00 to $72.00 in a research report on Tuesday, May 12th. Scotiabank reissued an “outperform” rating on shares of Pan American Silver in a research report on Tuesday, July 14th. Bank of America dropped their price objective on Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $75.00 target price on shares of Pan American Silver in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group lowered their target price on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a report on Monday, July 6th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.43.

Pan American Silver Price Performance

Shares of NYSE PAAS opened at $43.22 on Wednesday. Pan American Silver Corp. has a twelve month low of $26.76 and a twelve month high of $69.99. The stock’s 50 day moving average price is $47.66 and its 200-day moving average price is $54.02. The company has a market capitalization of $18.03 billion, a PE ratio of 13.90, a PEG ratio of 3.79 and a beta of 0.72. The company has a quick ratio of 2.11, a current ratio of 2.84 and a debt-to-equity ratio of 0.11.

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 (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.Pan American Silver’s quarterly revenue was up 49.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. On average, equities analysts anticipate that Pan American Silver Corp. will post 4.15 EPS for the current year.

Pan American Silver Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, May 19th. Pan American Silver’s dividend payout ratio is 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.