OLD Point Trust & Financial Services N A Takes Position in Pan American Silver Corp. $PAAS

OLD Point Trust & Financial Services N A acquired a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 3rd quarter, Holdings Channel reports. The fund acquired 21,000 shares of the basic materials company’s stock, valued at approximately $813,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its holdings in Pan American Silver by 299.4% in the 2nd quarter. Osaic Holdings Inc. now owns 144,087 shares of the basic materials company’s stock valued at $4,092,000 after buying an additional 108,012 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Pan American Silver in the second quarter valued at approximately $318,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Pan American Silver by 15.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 616,729 shares of the basic materials company’s stock worth $17,432,000 after acquiring an additional 80,350 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Pan American Silver by 1,140.2% during the second quarter. Tower Research Capital LLC TRC now owns 48,205 shares of the basic materials company’s stock worth $1,369,000 after acquiring an additional 44,318 shares during the period. Finally, Captrust Financial Advisors acquired a new position in Pan American Silver during the 2nd quarter valued at $313,000. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Up 1.4%

Shares of PAAS opened at $49.97 on Thursday. The company has a quick ratio of 1.55, a current ratio of 2.31 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $40.18 and a two-hundred day moving average price of $34.71. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 28.89, a P/E/G ratio of 0.47 and a beta of 0.72. Pan American Silver Corp. has a 12 month low of $19.80 and a 12 month high of $52.24.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $854.60 million during the quarter, compared to the consensus estimate of $867.76 million. Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 earnings per share. Equities analysts predict that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 24th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, November 24th. This is a boost from Pan American Silver’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. Pan American Silver’s dividend payout ratio (DPR) is 32.37%.

Analyst Ratings Changes

PAAS has been the topic of several research analyst reports. CIBC raised their price target on shares of Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Wall Street Zen downgraded Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Scotiabank boosted their price target on Pan American Silver from $36.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. National Bank Financial upgraded Pan American Silver to a “strong-buy” rating in a research report on Thursday, September 4th. Finally, Bank of America boosted their price objective on Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.33.

Pan American Silver Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.