Pan American Silver Corp. (NYSE:PAAS) Position Boosted by Pictet Asset Management SA

Posted by Defense World Staff on Aug 24th, 2023

Pictet Asset Management SA lifted its stake in shares of Pan American Silver Corp. (NYSE:PAAS – Free Report) (TSE:PAAS) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 363,030 shares of the basic materials company’s stock after purchasing an additional 51,721 shares during the period. Pictet Asset Management SA owned about 0.17% of Pan American Silver worth $6,615,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Prelude Capital Management LLC raised its stake in Pan American Silver by 1.6% during the first quarter. Prelude Capital Management LLC now owns 32,602 shares of the basic materials company’s stock worth $890,000 after acquiring an additional 524 shares during the period. Northern Trust Corp raised its stake in Pan American Silver by 5.5% during the first quarter. Northern Trust Corp now owns 11,998 shares of the basic materials company’s stock worth $328,000 after acquiring an additional 623 shares during the period. Confluence Investment Management LLC raised its stake in Pan American Silver by 2.7% during the first quarter. Confluence Investment Management LLC now owns 27,727 shares of the basic materials company’s stock worth $505,000 after acquiring an additional 742 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in Pan American Silver by 3.2% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 29,328 shares of the basic materials company’s stock worth $479,000 after acquiring an additional 901 shares during the period. Finally, Vident Investment Advisory LLC raised its stake in Pan American Silver by 7.9% during the fourth quarter. Vident Investment Advisory LLC now owns 12,333 shares of the basic materials company’s stock worth $202,000 after acquiring an additional 908 shares during the period. Institutional investors own 60.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PAAS shares. Canaccord Genuity Group dropped their price target on shares of Pan American Silver from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, July 24th. StockNews.com started coverage on shares of Pan American Silver in a research note on Monday. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.88.

Get Our Latest Report on PAAS

Pan American Silver Price Performance

Pan American Silver stock opened at $16.11 on Thursday. The firm has a 50 day simple moving average of $15.65 and a 200-day simple moving average of $16.12. The company has a current ratio of 2.13, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20. Pan American Silver Corp. has a 12-month low of $13.40 and a 12-month high of $19.84.

Pan American Silver (NYSE:PAAS – Get Free Report) (TSE:PAAS) last posted its quarterly earnings data on Thursday, August 10th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.04). The company had revenue of $639.90 million during the quarter, compared to the consensus estimate of $642.16 million. Pan American Silver had a negative net margin of 15.77% and a positive return on equity of 0.73%. The company’s revenue was up 87.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) earnings per share. Equities analysts anticipate that Pan American Silver Corp. will post 0.43 earnings per share for the current year.

Pan American Silver Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 21st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Friday, August 18th. Pan American Silver’s payout ratio is -33.06%.

Pan American Silver Profile

(Free Report)

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, Argentina, and Bolivia. It holds interests in the La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, San Vicente, Joaquin, and Cap-Oeste Sur Este mines.