Wealthfront Advisers LLC Invests $535,000 in Pan American Silver Corp. $PAAS

Wealthfront Advisers LLC purchased a new position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,953 shares of the basic materials company’s stock, valued at approximately $535,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Pan American Silver during the second quarter worth about $375,948,000. Norges Bank bought a new position in shares of Pan American Silver during the fourth quarter valued at approximately $303,611,000. FIL Ltd lifted its holdings in shares of Pan American Silver by 154.7% during the fourth quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock valued at $378,872,000 after purchasing an additional 4,438,478 shares during the last quarter. Capital International Investors purchased a new position in shares of Pan American Silver during the fourth quarter valued at approximately $215,484,000. Finally, Bank of America Corp DE boosted its position in shares of Pan American Silver by 148.3% in the 2nd quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock worth $95,658,000 after purchasing an additional 2,011,862 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on PAAS shares. Jefferies Financial Group cut their price target on Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, May 11th. Zacks Research raised Pan American Silver from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Scotiabank reissued an “outperform” rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Finally, Wall Street Zen downgraded Pan American Silver from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.43.

Pan American Silver Trading Up 2.3%

Shares of NYSE PAAS opened at $53.11 on Friday. The firm’s 50 day moving average price is $46.31 and its 200-day moving average price is $52.75. Pan American Silver Corp. has a 52-week low of $31.60 and a 52-week high of $69.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.23 and a current ratio of 2.94. The company has a market cap of $22.15 billion, a PE ratio of 16.05, a P/E/G ratio of 4.82 and a beta of 0.73.

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 for the quarter, missing the consensus estimate of $0.84 by ($0.11). Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business earned $0.43 EPS. Pan American Silver’s revenue was up 38.4% on a year-over-year basis. On average, equities research analysts expect that Pan American Silver Corp. will post 4.03 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be issued a $0.184 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, August 24th. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.18. Pan American Silver’s dividend payout ratio is 21.75%.

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.