Citigroup Inc. lessened its stake in Pan American Silver Corp. (NYSE:PAAS – Free Report) TSE: PAAS by 93.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,046 shares of the basic materials company’s stock after selling 1,370,052 shares during the quarter. Citigroup Inc.’s holdings in Pan American Silver were worth $1,411,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PAAS. Bank of New York Mellon Corp increased its holdings in shares of Pan American Silver by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 224,029 shares of the basic materials company’s stock valued at $6,115,000 after purchasing an additional 5,501 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Pan American Silver by 32.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,465 shares of the basic materials company’s stock valued at $312,000 after purchasing an additional 2,830 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Pan American Silver by 2.5% in the first quarter. BlackRock Inc. now owns 122,288 shares of the basic materials company’s stock valued at $3,339,000 after purchasing an additional 2,987 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Pan American Silver in the first quarter valued at approximately $207,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Pan American Silver by 18.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,248,440 shares of the basic materials company’s stock valued at $34,084,000 after purchasing an additional 190,839 shares during the last quarter. Institutional investors and hedge funds own 85.50% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on PAAS shares. StockNews.com cut Pan American Silver from a “hold” rating to a “sell” rating in a research note on Monday, January 15th. CIBC cut their target price on Pan American Silver from $28.00 to $27.50 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Scotiabank cut their target price on Pan American Silver from $20.00 to $19.50 and set a “sector outperform” rating for the company in a research note on Friday. BMO Capital Markets cut their target price on Pan American Silver from $27.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, January 18th. Finally, TD Securities cut their target price on Pan American Silver from $18.50 to $17.50 and set a “buy” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, Pan American Silver has a consensus rating of “Moderate Buy” and an average price target of $21.70.
Get Our Latest Research Report on PAAS
Pan American Silver Trading Down 1.9 %
PAAS opened at $12.60 on Tuesday. Pan American Silver Corp. has a 52 week low of $12.16 and a 52 week high of $19.84. The business has a fifty day simple moving average of $14.37 and a 200-day simple moving average of $14.85. The firm has a market cap of $4.59 billion, a P/E ratio of -42.00, a P/E/G ratio of 1.00 and a beta of 1.44. The company has a quick ratio of 1.09, a current ratio of 2.23 and a debt-to-equity ratio of 0.16.
Pan American Silver (NYSE:PAAS – Get Free Report) TSE: PAAS last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.12). Pan American Silver had a positive return on equity of 0.44% and a negative net margin of 5.24%. The firm had revenue of $669.60 million for the quarter, compared to analysts’ expectations of $657.65 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. On average, equities analysts expect that Pan American Silver Corp. will post 0.24 earnings per share for the current year.
Pan American Silver Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Monday, March 4th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.17%. Pan American Silver’s dividend payout ratio (DPR) is presently -133.33%.
Pan American Silver Profile
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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