Forsta AP Fonden Purchases 48,000 Shares of Pan American Silver Corp. (NYSE:PAAS)

Forsta AP Fonden grew its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 128.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,400 shares of the basic materials company’s stock after purchasing an additional 48,000 shares during the quarter. Forsta AP Fonden’s holdings in Pan American Silver were worth $1,785,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Tidal Investments LLC boosted its position in Pan American Silver by 15,618.3% during the first quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock valued at $57,340,000 after acquiring an additional 3,779,309 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Pan American Silver during the 2nd quarter valued at about $38,116,000. Bank of New York Mellon Corp grew its stake in Pan American Silver by 366.9% during the second quarter. Bank of New York Mellon Corp now owns 1,601,137 shares of the basic materials company’s stock worth $31,831,000 after purchasing an additional 1,258,205 shares during the period. Mackenzie Financial Corp increased its holdings in Pan American Silver by 51.1% in the second quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company’s stock worth $62,107,000 after purchasing an additional 1,056,981 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in Pan American Silver by 22.1% in the second quarter. TD Asset Management Inc now owns 2,186,157 shares of the basic materials company’s stock valued at $43,440,000 after buying an additional 395,589 shares during the period. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Pan American Silver Stock Performance

Shares of PAAS opened at $24.33 on Thursday. The firm has a market capitalization of $8.83 billion, a P/E ratio of -62.38 and a beta of 1.35. Pan American Silver Corp. has a 52 week low of $12.16 and a 52 week high of $26.05. The stock has a 50 day moving average price of $21.65 and a two-hundred day moving average price of $20.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.06.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The company had revenue of $686.30 million during the quarter, compared to analysts’ expectations of $696.08 million. Pan American Silver had a negative net margin of 5.54% and a positive return on equity of 0.66%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 earnings per share. Equities analysts forecast that Pan American Silver Corp. will post 0.66 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Monday, August 19th. Pan American Silver’s payout ratio is -102.56%.

Analyst Ratings Changes

Several analysts have recently weighed in on PAAS shares. Jefferies Financial Group lifted their price objective on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Scotiabank upped their price objective on shares of Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 16th. CIBC raised their target price on Pan American Silver from $30.00 to $35.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada upped their price target on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.93.

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, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.