Public Employees Retirement System of Ohio Makes New Investment in Pan American Silver Corp. $PAAS

Public Employees Retirement System of Ohio purchased a new stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the second quarter, Holdings Channel.com reports. The firm purchased 24,270 shares of the basic materials company’s stock, valued at approximately $1,088,000.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp boosted its stake in shares of 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 valued at $28,000 after purchasing an additional 481 shares in the last quarter. NFJ Investment Group LLC purchased a new position in Pan American Silver in the 2nd quarter worth $25,000. Parallel Advisors LLC raised its position in Pan American Silver by 151.8% in the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 387 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Pan American Silver in the fourth quarter worth $34,000. Finally, Danske Bank A S purchased a new stake in Pan American Silver during the second quarter valued at about $30,000. 55.43% of the stock is currently owned by institutional investors.

Pan American Silver Stock Performance

Pan American Silver stock opened at $51.07 on Wednesday. The company has a current ratio of 2.94, a quick ratio of 2.23 and a debt-to-equity ratio of 0.11. The firm has a market cap of $21.21 billion, a P/E ratio of 15.43, a P/E/G ratio of 5.05 and a beta of 0.77. Pan American Silver Corp. has a 1-year low of $33.08 and a 1-year high of $69.99. The firm has a 50-day moving average of $47.46 and a 200-day moving average of $52.34.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced 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). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The firm’s revenue for the quarter was up 38.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. Sell-side analysts expect that Pan American Silver Corp. will post 3.81 EPS for the current year.

Pan American Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Monday, August 24th were given 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 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, August 24th. Pan American Silver’s dividend payout ratio is presently 22.36%.

Wall Street Analyst Weigh In

PAAS has been the topic of a number of recent research reports. Weiss Ratings cut Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Jefferies Financial Group reduced their price target on Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. Zacks Research raised Pan American Silver from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. TD Cowen upgraded Pan American Silver from a “hold” rating to a “buy” rating and boosted their price objective for the company from $67.00 to $72.00 in a research report on Tuesday, May 12th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pan American Silver in a research note on Thursday, August 13th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Pan American Silver has an average rating of “Moderate Buy” and an average 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.