Aviva PLC Trims Stake in Pan American Silver Corp. (NASDAQ:PAAS)

Posted by Defense World Staff on Mar 1st, 2023

Aviva PLC lowered its position in Pan American Silver Corp. (NASDAQ:PAAS – Get Rating) (TSE:PAAS) by 90.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,329 shares of the basic materials company’s stock after selling 103,334 shares during the quarter. Aviva PLC’s holdings in Pan American Silver were worth $181,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its position in shares of Pan American Silver by 1,220.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,320 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 1,220 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in Pan American Silver during the 3rd quarter worth $37,000. Forsta AP Fonden acquired a new stake in Pan American Silver during the 2nd quarter worth $41,000. IFP Advisors Inc boosted its stake in Pan American Silver by 94.3% during the 3rd quarter. IFP Advisors Inc now owns 2,720 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 1,320 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of Pan American Silver by 218.0% during the 2nd quarter. US Bancorp DE now owns 2,477 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 1,698 shares during the last quarter. Hedge funds and other institutional investors own 44.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank of Canada upgraded shares of Pan American Silver from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $19.00 to $22.00 in a report on Wednesday, January 11th. TD Securities lowered their price target on Pan American Silver from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, February 24th. StockNews.com downgraded Pan American Silver from a “hold” rating to a “sell” rating in a report on Friday, February 17th. Finally, National Bank Financial increased their price objective 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.30.

Pan American Silver Stock Up 1.2 %

Shares of NASDAQ:PAAS opened at $14.86 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. Pan American Silver Corp. has a one year low of $13.40 and a one year high of $30.56. The business’s 50-day simple moving average is $17.25 and its 200 day simple moving average is $16.35.

Pan American Silver (NASDAQ:PAAS – Get Rating) (TSE:PAAS) last issued its earnings results on Thursday, February 23rd. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04). Pan American Silver had a positive return on equity of 0.74% and a negative net margin of 22.82%. The firm had revenue of $375.43 million during the quarter, compared to analyst estimates of $409.65 million. During the same quarter in the previous year, the business posted $0.19 EPS. Pan American Silver’s revenue was down 11.1% compared to the same quarter last year. As a group, equities research analysts forecast that Pan American Silver Corp. will post 0.45 earnings per share for the current year.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Monday, March 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.69%. The ex-dividend date is Friday, March 3rd. Pan American Silver’s payout ratio is -24.54%.

Pan American Silver Company Profile

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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.