Van ECK Associates Corp Sells 2,460,257 Shares of Pan American Silver Corp. $PAAS

Van ECK Associates Corp reduced its stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 11.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,066,671 shares of the basic materials company’s stock after selling 2,460,257 shares during the period. Van ECK Associates Corp owned approximately 4.57% of Pan American Silver worth $854,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PAAS. RFG Advisory LLC lifted its position in shares of Pan American Silver by 2.5% during the 1st 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 during the period. Grand Central Investment Group increased its position in shares of 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 purchasing an additional 211 shares during the period. Metis Global Partners LLC raised its stake in Pan American Silver by 1.5% in the fourth quarter. Metis Global Partners LLC now owns 16,646 shares of the basic materials company’s stock valued at $863,000 after purchasing an additional 239 shares in the last quarter. North Star Investment Management Corp. raised its stake in Pan American Silver by 7.8% in the first quarter. North Star Investment Management Corp. now owns 3,451 shares of the basic materials company’s stock valued at $189,000 after purchasing an additional 251 shares in the last quarter. Finally, Ieq Capital LLC lifted its position in Pan American Silver by 2.3% during the fourth quarter. Ieq Capital LLC now owns 11,329 shares of the basic materials company’s stock worth $587,000 after purchasing an additional 259 shares during the period. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Performance

NYSE PAAS opened at $53.00 on Friday. The firm’s fifty day moving average price is $46.65 and its two-hundred day moving average price is $52.70. The stock has a market cap of $22.10 billion, a PE ratio of 16.01, a PEG ratio of 5.12 and a beta of 0.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.23 and a current ratio of 2.94. Pan American Silver Corp. has a fifty-two week low of $32.95 and a fifty-two week high of $69.99.

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 the consensus estimate of $0.84 by ($0.11). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.16 billion. Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The company’s revenue was up 38.4% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. On average, equities analysts expect that Pan American Silver Corp. will post 4.02 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.184 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.4%. This is an increase from Pan American Silver’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, August 24th. Pan American Silver’s dividend payout ratio (DPR) is presently 22.36%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PAAS. Scotiabank reissued an “outperform” rating on shares of Pan American Silver in a report on Tuesday, July 14th. TD Securities upgraded Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Monday, May 11th. Jefferies Financial Group lowered their price target on Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a report on Monday, July 6th. Zacks Research upgraded Pan American Silver from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen lowered Pan American Silver from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.43.

Pan American Silver Company 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.