Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 2,916,962 Pan American Silver Corp. $PAAS

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 2nd quarter, Holdings Channel reports. The firm acquired 2,916,962 shares of the basic materials company’s stock, valued at approximately $130,636,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. RFG Advisory LLC raised its holdings in Pan American Silver by 2.5% in the first quarter. RFG Advisory LLC now owns 7,731 shares of the basic materials company’s stock valued at $422,000 after acquiring an additional 191 shares in the last quarter. Grand Central Investment Group lifted its stake in Pan American Silver by 0.5% in the first quarter. Grand Central Investment Group now owns 44,801 shares of the basic materials company’s stock worth $2,447,000 after acquiring an additional 211 shares during the last quarter. Metis Global Partners LLC grew its holdings in Pan American Silver by 1.5% during the 4th quarter. Metis Global Partners LLC now owns 16,646 shares of the basic materials company’s stock worth $863,000 after acquiring an additional 239 shares in the last quarter. North Star Investment Management Corp. grew its holdings in Pan American Silver by 7.8% during the 1st quarter. North Star Investment Management Corp. now owns 3,451 shares of the basic materials company’s stock worth $189,000 after acquiring an additional 251 shares in the last quarter. Finally, Ieq Capital LLC increased its position in shares of Pan American Silver by 2.3% in the 4th quarter. Ieq Capital LLC now owns 11,329 shares of the basic materials company’s stock valued at $587,000 after purchasing an additional 259 shares during the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAAS has been the topic of a number of analyst reports. Scotiabank restated an “outperform” rating on shares of Pan American Silver in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, May 11th. BMO Capital Markets restated a “market perform” rating on shares of Pan American Silver in a research note on Thursday, August 13th. Finally, Weiss Ratings cut Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.43.

Pan American Silver Stock Performance

Shares of PAAS opened at $53.11 on Monday. The company has a market capitalization of $22.15 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 4.90 and a beta of 0.73. Pan American Silver Corp. has a 52-week low of $31.60 and a 52-week high of $69.99. The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $46.31 and a 200 day moving average price of $52.74.

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 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 analyst estimates of $1.16 billion. Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The firm’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 EPS. Research analysts predict that Pan American Silver Corp. will post 4.06 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be given a $0.184 dividend. This is a positive change 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 dividend yield of 1.4%. Pan American Silver’s payout ratio is 21.75%.

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.