Creative Planning Purchases New Position in Pan American Silver Corp. (NYSE:PAAS)

Posted by on Oct 26th, 2023

Creative Planning purchased a new stake in Pan American Silver Corp. (NYSE:PAAS – Free Report) (TSE:PAAS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,981 shares of the basic materials company’s stock, valued at approximately $175,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Moneta Group Investment Advisors LLC increased its stake in Pan American Silver by 94,294.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 35,309,364 shares of the basic materials company’s stock worth $576,955,000 after buying an additional 35,271,958 shares in the last quarter. Van ECK Associates Corp increased its stake in Pan American Silver by 13.6% during the 1st quarter. Van ECK Associates Corp now owns 24,829,558 shares of the basic materials company’s stock worth $451,896,000 after buying an additional 2,965,528 shares in the last quarter. Norges Bank purchased a new stake in Pan American Silver during the 4th quarter worth approximately $35,988,000. Millennium Management LLC increased its stake in Pan American Silver by 1,104.8% during the 4th quarter. Millennium Management LLC now owns 2,049,031 shares of the basic materials company’s stock worth $33,481,000 after buying an additional 1,878,957 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in Pan American Silver by 230.1% during the 4th quarter. Mackenzie Financial Corp now owns 2,073,588 shares of the basic materials company’s stock worth $33,790,000 after buying an additional 1,445,356 shares in the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.

Pan American Silver Trading Down 1.8 %

PAAS opened at $14.98 on Thursday. Pan American Silver Corp. has a one year low of $13.40 and a one year high of $19.84. The stock has a market capitalization of $5.46 billion, a PE ratio of -12.38 and a beta of 1.24. The business’s 50 day moving average price is $15.27 and its 200 day moving average price is $15.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 2.13.

Pan American Silver (NYSE:PAAS – Get Free Report) (TSE:PAAS) last released its quarterly earnings results on Thursday, August 10th. The basic materials company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). Pan American Silver had a positive return on equity of 0.73% and a negative net margin of 15.77%. The firm had revenue of $639.90 million for the quarter, compared to analyst estimates of $642.16 million. During the same quarter last year, the company earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 87.9% on a year-over-year basis. As a group, equities research analysts expect that Pan American Silver Corp. will post 0.4 EPS for the current year.

Pan American Silver Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 21st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Friday, August 18th. Pan American Silver’s dividend payout ratio (DPR) is -33.06%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Canaccord Genuity Group lowered their target price on Pan American Silver from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, July 24th. StockNews.com assumed coverage on Pan American Silver in a report on Thursday, October 5th. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.88.

Get Our Latest Analysis on Pan American Silver

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.

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Institutional Ownership by Quarter for Pan American Silver (NYSE:PAAS)

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