Pan American Silver Corp. (NASDAQ:PAAS) Shares Sold by Skandinaviska Enskilda Banken AB publ

Posted by Defense World Staff on Feb 25th, 2023

Skandinaviska Enskilda Banken AB publ cut its stake in Pan American Silver Corp. (NASDAQ:PAAS – Get Rating) (TSE:PAAS) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,427 shares of the basic materials company’s stock after selling 2,091 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Pan American Silver were worth $452,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Pan American Silver by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 6,691,874 shares of the basic materials company’s stock worth $182,687,000 after acquiring an additional 121,281 shares during the period. Renaissance Technologies LLC boosted its position in Pan American Silver by 47.7% in the second quarter. Renaissance Technologies LLC now owns 2,957,604 shares of the basic materials company’s stock valued at $58,168,000 after buying an additional 954,800 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Pan American Silver by 45.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,176,665 shares of the basic materials company’s stock worth $34,564,000 after buying an additional 682,040 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Pan American Silver by 8.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,919,733 shares of the basic materials company’s stock worth $30,479,000 after buying an additional 146,478 shares during the last quarter. Finally, Invesco Ltd. raised its position in Pan American Silver by 4.0% during the 1st quarter. Invesco Ltd. now owns 1,295,465 shares of the basic materials company’s stock worth $35,366,000 after buying an additional 49,898 shares during the last quarter. 44.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com lowered shares of Pan American Silver from a “hold” rating to a “sell” rating in a research note on Friday, February 17th. Royal Bank of Canada upgraded Pan American Silver from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $19.00 to $22.00 in a research note on Wednesday, January 11th. TD Securities decreased their price objective on Pan American Silver from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday. Finally, National Bank Financial raised their target price on Pan American Silver to C$32.50 in a report on Friday, February 17th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.30.

Pan American Silver Trading Down 2.4 %

Shares of Pan American Silver stock opened at $14.90 on Friday. The firm has a 50-day simple moving average of $17.31 and a two-hundred day simple moving average of $16.46. The company has a current ratio of 2.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.09. Pan American Silver Corp. has a fifty-two week low of $13.40 and a fifty-two week high of $30.56.

Pan American Silver (NASDAQ:PAAS – Get Rating) (TSE:PAAS) last announced its quarterly earnings results on Thursday, February 23rd. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $375.43 million during the quarter, compared to analysts’ expectations of $409.65 million. Pan American Silver had a negative net margin of 22.82% and a positive return on equity of 0.74%. Pan American Silver’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. Equities research analysts forecast that Pan American Silver Corp. will post 0.43 earnings per share for the current year.

Pan American Silver Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Monday, March 6th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, March 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.68%. Pan American Silver’s dividend payout ratio (DPR) is -24.54%.

About Pan American Silver

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Pan American Silver Corp. engages in the exploration, development, extraction, processing, refining, and reclamation of mineral properties. The firm operates through the following segments: Silver, Gold, and Other. The company was founded by Ross J. Beaty and John J. Wright on March 17, 1979 and is headquartered in Vancouver, Canada.