SEB Asset Management AB Purchases New Shares in Pan American Silver Corp. $PAAS

SEB Asset Management AB purchased a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 61,003 shares of the basic materials company’s stock, valued at approximately $3,327,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in Pan American Silver in the fourth quarter valued at $303,611,000. FIL Ltd boosted its stake in shares of Pan American Silver by 154.7% during the fourth quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock worth $378,872,000 after buying an additional 4,438,478 shares during the period. Capital International Investors acquired a new stake in shares of Pan American Silver during the fourth quarter worth about $215,484,000. Bank of America Corp DE grew its holdings in shares of Pan American Silver by 148.3% during the second quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock worth $95,658,000 after buying an additional 2,011,862 shares during the last quarter. Finally, Man Group plc grew its holdings in shares of Pan American Silver by 252.0% during the second quarter. Man Group plc now owns 1,667,132 shares of the basic materials company’s stock worth $47,347,000 after buying an additional 1,193,458 shares during the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on PAAS shares. Scotiabank reaffirmed an “outperform” rating on shares of Pan American Silver in a research note on Tuesday, July 14th. TD Cowen upgraded 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 note on Tuesday, May 12th. Jefferies Financial Group dropped their target price on Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Royal Bank Of Canada restated an “outperform” rating and set a $75.00 price target on shares of Pan American Silver in a research note on Tuesday, April 28th. Finally, Weiss Ratings downgraded Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.43.

Pan American Silver Price Performance

Shares of NYSE:PAAS opened at $45.28 on Thursday. The business’s 50 day simple moving average is $48.66 and its 200-day simple moving average is $54.29. The firm has a market capitalization of $18.88 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 3.93 and a beta of 0.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.84 and a quick ratio of 2.11. Pan American Silver Corp. has a 12 month low of $26.76 and a 12 month high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data 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. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate 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 last year, the business posted $0.42 EPS. As a group, equities analysts forecast that Pan American Silver Corp. will post 4.02 earnings per share for the current fiscal year.

Pan American Silver Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th were issued a $0.18 dividend. The ex-dividend date of this dividend 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 23.15%.

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.