Canada Pension Plan Investment Board Buys 251,522 Shares of Pan American Silver Corp. (NYSE:PAAS)

Canada Pension Plan Investment Board grew its stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 31.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,046,142 shares of the basic materials company’s stock after buying an additional 251,522 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.29% of Pan American Silver worth $21,137,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PAAS. Vanguard Group Inc. increased its holdings in Pan American Silver by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 14,008,185 shares of the basic materials company’s stock worth $283,385,000 after purchasing an additional 221,561 shares in the last quarter. FIL Ltd increased its stake in shares of Pan American Silver by 4.6% in the fourth quarter. FIL Ltd now owns 13,388,644 shares of the basic materials company’s stock valued at $270,848,000 after buying an additional 584,017 shares during the period. Norges Bank bought a new position in Pan American Silver in the 4th quarter valued at approximately $91,916,000. Geode Capital Management LLC boosted its position in Pan American Silver by 32.2% during the 4th quarter. Geode Capital Management LLC now owns 2,027,461 shares of the basic materials company’s stock worth $40,776,000 after buying an additional 494,133 shares during the period. Finally, Ingalls & Snyder LLC grew its holdings in Pan American Silver by 5.4% during the 4th quarter. Ingalls & Snyder LLC now owns 1,726,999 shares of the basic materials company’s stock worth $34,920,000 after acquiring an additional 89,011 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Pan American Silver Stock Performance

Shares of PAAS stock opened at $27.20 on Friday. The firm has a 50 day moving average of $25.05 and a 200-day moving average of $23.29. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 85.00 and a beta of 1.06. The company has a quick ratio of 0.96, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. Pan American Silver Corp. has a 52 week low of $17.86 and a 52 week high of $28.60.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The business had revenue of $815.10 million during the quarter, compared to analysts’ expectations of $805.20 million. On average, equities analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Monday, March 3rd. Pan American Silver’s dividend payout ratio (DPR) is currently 125.00%.

Analyst Upgrades and Downgrades

PAAS has been the topic of a number of recent research reports. BMO Capital Markets started coverage on shares of Pan American Silver in a report on Wednesday. They set a “market perform” rating on the stock. Royal Bank of Canada upped their price target on Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. National Bankshares restated an “outperform” rating on shares of Pan American Silver in a research report on Wednesday, April 2nd. TD Securities cut Pan American Silver from a “buy” rating to a “hold” rating and reduced their target price for the company from $28.00 to $27.00 in a report on Tuesday, March 11th. Finally, Scotiabank restated a “sector perform” rating on shares of Pan American Silver in a report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.50.

About Pan American Silver

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.