13,686 Pan American Silver Corp. $PAAS Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 52.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,353 shares of the basic materials company’s stock after selling 13,686 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Pan American Silver were worth $562,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PAAS. BlackRock Inc. purchased a new position in Pan American Silver during the second quarter valued at $375,948,000. Bank of America Corp DE bought a new stake in Pan American Silver in the second quarter worth $82,038,000. Edmond DE Rothschild Holding S.A. bought a new stake in Pan American Silver in the second quarter worth $2,347,000. Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of Pan American Silver in the second quarter worth $6,277,000. Finally, Groupe la Francaise grew its stake in shares of Pan American Silver by 11.8% in the second quarter. Groupe la Francaise now owns 380,000 shares of the basic materials company’s stock worth $17,042,000 after acquiring an additional 40,000 shares during the last quarter. 55.43% of the stock is owned by institutional investors.

Pan American Silver Stock Performance

PAAS stock opened at $41.22 on Monday. The stock has a market capitalization of $17.00 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 4.62 and a beta of 0.76. Pan American Silver Corp. has a 12-month low of $33.62 and a 12-month high of $69.99. The company has a current ratio of 2.72, a quick ratio of 2.03 and a debt-to-equity ratio of 0.11. The stock’s 50 day simple moving average is $45.90 and its 200 day simple moving average is $51.43.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, November 4th. The basic materials company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. Pan American Silver had a return on equity of 20.94% and a net margin of 35.18%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the business posted $0.48 EPS. As a group, research analysts forecast that Pan American Silver Corp. will post 3.34 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.1850 per share. The ex-dividend date of this dividend is Monday, November 16th. This is an increase from Pan American Silver’s previous quarterly dividend of $0.1840. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.8%. Pan American Silver’s dividend payout ratio is currently 19.84%.

Analysts Set New Price Targets

PAAS has been the subject of several recent analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Pan American Silver in a research report on Tuesday, July 14th. Weiss Ratings cut shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Royal Bank Of Canada cut their price objective on shares of Pan American Silver from $65.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 16th. Wall Street Zen lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Pan American Silver in a research note on Thursday, August 13th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.71.

About Pan American Silver

Pan American Silver Corp. is a mining company focused on the exploration, development and operation of silver and gold mines. Its products also include by-products such as zinc, lead and copper, which are recovered during mining and processing.

Founded in 1994 and headquartered in Vancouver, British Columbia, the company operates mines and holds exploration and development interests in Canada and Latin America. Its portfolio has expanded over time through acquisitions, including its 2023 acquisition of Yamana Gold’s Canadian assets and interests in several mines in Latin America.

Pan American Silver’s activities span the mining lifecycle, from mineral exploration and project development to ore processing and the sale of produced metals.