Norges Bank Purchases New Shares in Pan American Silver Corp. (NYSE:PAAS)

Norges Bank acquired a new position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,546,642 shares of the basic materials company's stock, valued at approximately $91,916,000. Norges Bank owned 1.25% of Pan American Silver at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in shares of Pan American Silver by 6.0% during the fourth quarter. Signaturefd LLC now owns 7,924 shares of the basic materials company's stock worth $160,000 after buying an additional 451 shares during the last quarter. US Bancorp DE raised its stake in Pan American Silver by 9.6% during the 4th quarter. US Bancorp DE now owns 6,139 shares of the basic materials company's stock valued at $124,000 after purchasing an additional 539 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Pan American Silver by 23.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,892 shares of the basic materials company's stock valued at $58,000 after purchasing an additional 549 shares during the period. Principal Securities Inc. grew its position in Pan American Silver by 12.5% in the 4th quarter. Principal Securities Inc. now owns 5,977 shares of the basic materials company's stock worth $121,000 after purchasing an additional 664 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. increased its holdings in shares of Pan American Silver by 1.4% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 70,451 shares of the basic materials company's stock worth $1,423,000 after purchasing an additional 972 shares during the period. Institutional investors own 55.43% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PAAS. National Bankshares reiterated an "outperform" rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. StockNews.com downgraded Pan American Silver from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Scotiabank boosted their price objective on Pan American Silver from $28.00 to $28.50 and gave the company a "sector outperform" rating in a research report on Tuesday, February 25th. TD Securities cut Pan American Silver from a "buy" rating to a "hold" rating and reduced their target price for the stock from $28.00 to $27.00 in a research report on Tuesday, March 11th. Finally, Royal Bank of Canada boosted their price target on shares of Pan American Silver from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.92.

Pan American Silver Price Performance

NYSE:PAAS traded up $0.39 during trading hours on Monday, reaching $21.88. The company had a trading volume of 4,535,033 shares, compared to its average volume of 3,812,678. The company has a quick ratio of 0.96, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $24.72 and a two-hundred day moving average of $23.01. Pan American Silver Corp. has a one year low of $17.55 and a one year high of $27.47. The firm has a market capitalization of $7.92 billion, a PE ratio of 68.38 and a beta of 1.06.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The business had revenue of $815.10 million for the quarter, compared to analyst estimates of $805.20 million. Analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Monday, March 3rd. Pan American Silver's dividend payout ratio (DPR) is currently 125.00%.

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.