Pan American Silver Corp. (NYSE:PAAS) Shares Sold by Hourglass Capital LLC

Hourglass Capital LLC lowered its stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 45.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the basic materials company’s stock after selling 16,500 shares during the period. Hourglass Capital LLC’s holdings in Pan American Silver were worth $398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC grew its stake in shares of Pan American Silver by 31.6% during the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 510 shares in the last quarter. Perritt Capital Management Inc. increased its holdings in shares of Pan American Silver by 76.9% in the 1st quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 1,000 shares during the last quarter. UniSuper Management Pty Ltd raised its position in shares of Pan American Silver by 73.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 2,200 shares in the last quarter. Signaturefd LLC lifted its stake in Pan American Silver by 11.6% during the second quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 774 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Pan American Silver by 446.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 8,781 shares of the basic materials company’s stock valued at $143,000 after purchasing an additional 7,174 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Wall Street Analysts Forecast Growth

PAAS has been the subject of several recent analyst reports. StockNews.com upgraded shares of Pan American Silver from a “sell” rating to a “hold” rating in a research report on Saturday, May 11th. BMO Capital Markets upped their price objective on shares of Pan American Silver from $22.00 to $24.00 in a research note on Tuesday, May 21st. CIBC lifted their target price on Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Jefferies Financial Group boosted their target price on Pan American Silver from $19.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 12th. Finally, Scotiabank raised their price target on Pan American Silver from $23.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.42.

Pan American Silver Stock Performance

NYSE PAAS opened at $19.25 on Friday. The firm has a market cap of $6.99 billion, a P/E ratio of -41.96 and a beta of 1.35. Pan American Silver Corp. has a 52-week low of $12.16 and a 52-week high of $24.27. The business’s 50-day moving average price is $21.17 and its 200 day moving average price is $18.95. The company has a quick ratio of 0.92, a current ratio of 2.06 and a debt-to-equity ratio of 0.16.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). Pan American Silver had a negative net margin of 5.54% and a positive return on equity of 0.66%. The company had revenue of $686.30 million during the quarter, compared to analysts’ expectations of $696.08 million. During the same quarter last year, the business posted $0.04 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that Pan American Silver Corp. will post 0.59 earnings per share for the current year.

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.40 annualized dividend and a yield of 2.08%. Pan American Silver’s dividend payout ratio is currently -86.96%.

Pan American Silver Company 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.