Highbridge Capital Management LLC bought a new stake in shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) during the 4th quarter, HoldingsChannel.com reports. The firm bought 910,879 shares of the basic materials company’s stock, valued at approximately $13,299,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Bank of America Corp DE boosted its stake in Pan American Silver by 32.2% during the 4th quarter. Bank of America Corp DE now owns 103,255 shares of the basic materials company’s stock valued at $1,508,000 after purchasing an additional 25,150 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Pan American Silver by 77.2% in the 4th quarter. Two Sigma Advisers LP now owns 543,046 shares of the basic materials company’s stock worth $7,931,000 after buying an additional 236,569 shares during the last quarter. CoreCommodity Management LLC boosted its stake in shares of Pan American Silver by 175.3% in the 4th quarter. CoreCommodity Management LLC now owns 22,077 shares of the basic materials company’s stock worth $322,000 after buying an additional 14,059 shares during the last quarter. Claybrook Capital LLC purchased a new position in shares of Pan American Silver in the 4th quarter worth $33,000. Finally, Cheviot Value Management LLC boosted its stake in shares of Pan American Silver by 8.1% in the 4th quarter. Cheviot Value Management LLC now owns 259,610 shares of the basic materials company’s stock worth $3,790,000 after buying an additional 19,506 shares during the last quarter. Institutional investors and hedge funds own 51.45% of the company’s stock.
PAAS has been the topic of a number of research reports. Bank of America downgraded Pan American Silver from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $16.70 to $12.75 in a research note on Monday, November 19th. Zacks Investment Research upgraded Pan American Silver from a “sell” rating to a “hold” rating in a research note on Tuesday, November 20th. BidaskClub upgraded Pan American Silver from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd. ValuEngine upgraded Pan American Silver from a “hold” rating to a “buy” rating in a research note on Monday, December 17th. Finally, Canaccord Genuity restated a “buy” rating and issued a $25.00 price target on shares of Pan American Silver in a research note on Tuesday, January 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.28.
Shares of Pan American Silver stock opened at $12.90 on Tuesday. The stock has a market cap of $1.98 billion, a PE ratio of 33.08, a PEG ratio of 10.61 and a beta of -0.13. Pan American Silver Corp. has a twelve month low of $12.12 and a twelve month high of $18.75.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, February 20th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.04). The firm had revenue of $173.40 million for the quarter, compared to analysts’ expectations of $179.03 million. Pan American Silver had a net margin of 1.38% and a return on equity of 3.80%. The company’s revenue for the quarter was down 23.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 EPS. As a group, sell-side analysts forecast that Pan American Silver Corp. will post 0.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.09%. Pan American Silver’s payout ratio is 35.90%.
About Pan American Silver
Pan American Silver Corp., together with its subsidiaries, engages in exploration, extraction, processing, refining, and reclamation of silver mines. The company owns and operates silver mines located in Peru, Mexico, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper. The company holds interests in the La Colorada, Dolores, Alamo Dorado, Huaron, Morococha, Manantial Espejo, and San Vicente mines.
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