Mirae Asset Global Investments Co. Ltd. Decreases Position in Pan American Silver Corp. (NYSE:PAAS)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 39.7% in the 1st quarter, HoldingsChannel reports. The firm owned 4,824,751 shares of the basic materials company’s stock after selling 3,179,500 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Pan American Silver were worth $72,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Pan American Silver by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,888,593 shares of the basic materials company’s stock worth $186,627,000 after purchasing an additional 183,681 shares during the last quarter. Ingalls & Snyder LLC boosted its holdings in Pan American Silver by 14.1% in the 4th quarter. Ingalls & Snyder LLC now owns 1,609,577 shares of the basic materials company’s stock worth $26,284,000 after buying an additional 199,479 shares during the period. SG Americas Securities LLC bought a new position in Pan American Silver in the 4th quarter worth approximately $751,000. B. Riley Wealth Advisors Inc. boosted its holdings in Pan American Silver by 98.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 184,662 shares of the basic materials company’s stock worth $2,674,000 after buying an additional 91,488 shares during the period. Finally, Norges Bank bought a new position in Pan American Silver in the 4th quarter worth approximately $63,066,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Performance

NYSE:PAAS traded up $0.58 during trading hours on Friday, hitting $21.50. The stock had a trading volume of 4,673,882 shares, compared to its average volume of 3,499,155. The company has a 50 day simple moving average of $20.38 and a two-hundred day simple moving average of $16.91. The company has a quick ratio of 0.92, a current ratio of 2.11 and a debt-to-equity ratio of 0.16. Pan American Silver Corp. has a one year low of $12.16 and a one year high of $22.75.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.13%. The company had revenue of $601.40 million during the quarter, compared to the consensus estimate of $592.58 million. During the same period in the previous year, the firm posted $0.10 EPS. The firm’s revenue was up 54.1% compared to the same quarter last year. On average, equities research analysts anticipate that Pan American Silver Corp. will post 0.52 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Monday, May 20th. Pan American Silver’s dividend payout ratio is currently -86.96%.

Wall Street Analyst Weigh In

Several research analysts recently commented on PAAS shares. Scotiabank raised their price objective on shares of Pan American Silver from $20.00 to $23.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 23rd. StockNews.com raised shares of Pan American Silver from a “sell” rating to a “hold” rating in a report on Saturday, May 11th. CIBC raised their price objective on shares of Pan American Silver from $27.50 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. BMO Capital Markets raised their price objective on shares of Pan American Silver from $22.00 to $24.00 in a report on Tuesday, May 21st. Finally, Jefferies Financial Group raised their price target on shares of Pan American Silver from $14.00 to $17.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.25.

About Pan American Silver

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.