Ninepoint Partners LP Buys New Position in Pan American Silver Corp. $PAAS

Ninepoint Partners LP purchased a new position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the second quarter, Holdings Channel.com reports. The fund purchased 161,306 shares of the basic materials company’s stock, valued at approximately $7,225,000. Pan American Silver comprises 0.6% of Ninepoint Partners LP’s portfolio, making the stock its 27th largest position.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Pan American Silver by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company’s stock worth $905,513,000 after purchasing an additional 274,168 shares during the period. Swiss Life Asset Management Ltd grew its holdings in shares of Pan American Silver by 46.9% during the fourth quarter. Swiss Life Asset Management Ltd now owns 58,827 shares of the basic materials company’s stock valued at $3,051,000 after buying an additional 18,791 shares during the last quarter. Royal Palms Capital LLC purchased a new position in Pan American Silver in the 4th quarter worth approximately $2,170,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Pan American Silver in the 4th quarter valued at approximately $1,341,000. Finally, Delta Investment Management LLC bought a new position in Pan American Silver in the 4th quarter valued at approximately $2,834,000. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Performance

Shares of PAAS opened at $51.95 on Friday. The firm has a market capitalization of $21.67 billion, a P/E ratio of 15.69, a PEG ratio of 4.67 and a beta of 0.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. Pan American Silver Corp. has a one year low of $31.16 and a one year high of $69.99. The business has a fifty day moving average of $46.22 and a 200 day moving average of $52.75.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.11). Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was up 38.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pan American Silver Corp. will post 4.03 EPS for the current year.

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be issued a dividend of $0.184 per share. This is an increase from Pan American Silver’s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, August 24th. Pan American Silver’s dividend payout ratio is currently 21.75%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Zacks Research upgraded Pan American Silver from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings cut Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Wall Street Zen lowered Pan American Silver from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Bank of America lowered their target price on shares of 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. Finally, TD Securities upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Monday, May 11th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.