Parvin Asset Management LLC Invests $1.56 Million in Pan American Silver Corp. $PAAS

Parvin Asset Management LLC bought a new stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the 2nd quarter, Holdings Channel.com reports. The firm bought 34,779 shares of the basic materials company’s stock, valued at approximately $1,558,000. Pan American Silver comprises approximately 1.2% of Parvin Asset Management LLC’s holdings, making the stock its 14th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in the business. NFJ Investment Group LLC acquired a new stake in Pan American Silver in the second quarter valued at approximately $25,000. Parallel Advisors LLC grew its holdings in shares of Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 387 shares during the last quarter. Fifth Third Bancorp grew its position in Pan American Silver by 1,336.1% in the 1st quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 481 shares during the last quarter. Danske Bank A S bought a new stake in shares of Pan American Silver during the second quarter valued at approximately $30,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Pan American Silver during the fourth quarter worth approximately $34,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Price Performance

PAAS opened at $52.63 on Thursday. The company has a fifty day moving average price of $46.45 and a two-hundred day moving average price of $52.70. Pan American Silver Corp. has a 52 week low of $32.32 and a 52 week high of $69.99. The firm has a market capitalization of $21.95 billion, a PE ratio of 15.90, a P/E/G ratio of 5.01 and a beta of 0.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.23 and a current ratio of 2.94.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.11). Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 38.4% on a year-over-year basis. As a group, analysts anticipate that Pan American Silver Corp. will post 4.06 earnings per share for the current year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be issued a $0.184 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, August 24th. Pan American Silver’s dividend payout ratio is 22.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PAAS. Jefferies Financial Group decreased their price target on Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a research note on Monday, July 6th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pan American Silver in a research note on Thursday, August 13th. TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Monday, May 11th. Wall Street Zen lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, TD Cowen raised shares of Pan American Silver from a “hold” rating to a “buy” rating and increased their price target for the stock from $67.00 to $72.00 in a research report on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock 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.