Maverick Capital Ltd. Invests $1.80 Million in Pan American Silver Corp. $PAAS

Maverick Capital Ltd. acquired a new stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the first quarter, HoldingsChannel.com reports. The firm acquired 32,915 shares of the basic materials company’s stock, valued at approximately $1,801,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in shares of Pan American Silver by 48.6% during the 1st quarter. AQR Capital Management LLC now owns 19,529 shares of the basic materials company’s stock valued at $504,000 after acquiring an additional 6,391 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Pan American Silver by 574.9% during the 1st quarter. Jones Financial Companies Lllp now owns 19,518 shares of the basic materials company’s stock valued at $504,000 after acquiring an additional 16,626 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Pan American Silver by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,499,343 shares of the basic materials company’s stock worth $38,728,000 after purchasing an additional 360,283 shares in the last quarter. Empowered Funds LLC purchased a new position in Pan American Silver in the 1st quarter worth approximately $1,272,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Pan American Silver by 53.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 594 shares during the period. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America dropped their price objective on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Scotiabank restated an “outperform” rating on shares of Pan American Silver in a research note on Tuesday, July 14th. TD Securities raised shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Monday, May 11th. TD Cowen upgraded Pan American Silver from a “hold” rating to a “buy” rating and raised their target price for the company from $67.00 to $72.00 in a research note on Tuesday, May 12th. Finally, Jefferies Financial Group dropped their price target on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.43.

Pan American Silver Stock Performance

PAAS stock opened at $44.12 on Tuesday. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. The firm has a market cap of $18.40 billion, a P/E ratio of 14.19, a P/E/G ratio of 3.90 and a beta of 0.72. Pan American Silver Corp. has a 12-month low of $26.76 and a 12-month high of $69.99. The stock’s 50 day simple moving average is $47.85 and its 200 day simple moving average is $54.10.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The firm’s revenue was up 49.3% on a year-over-year basis. As a group, equities research analysts predict that Pan American Silver Corp. will post 4.02 EPS for the current year.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.6%. Pan American Silver’s payout ratio is 23.15%.

About Pan American Silver

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.