Driehaus Capital Management LLC Buys Shares of 1,917,299 Pan American Silver Corp. (NYSE:PAAS)

Driehaus Capital Management LLC purchased a new position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,917,299 shares of the basic materials company's stock, valued at approximately $38,116,000. Driehaus Capital Management LLC owned approximately 0.53% of Pan American Silver as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC grew its stake in shares of Pan American Silver by 943.4% during the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company's stock worth $33,000 after acquiring an additional 1,500 shares in the last quarter. Perritt Capital Management Inc. grew its stake in shares of Pan American Silver by 76.9% in the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company's stock valued at $35,000 after buying an additional 1,000 shares in the last quarter. CWM LLC grew its stake in shares of Pan American Silver by 31.6% in the second quarter. CWM LLC now owns 2,124 shares of the basic materials company's stock valued at $42,000 after buying an additional 510 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in shares of Pan American Silver by 73.3% in the first quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company's stock valued at $78,000 after buying an additional 2,200 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of 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 buying an additional 7,174 shares in the last quarter. 55.43% of the stock is owned by institutional investors.

Pan American Silver Stock Performance

Shares of PAAS traded down $0.90 during midday trading on Friday, reaching $21.45. 3,391,237 shares of the stock were exchanged, compared to its average volume of 4,160,017. The company has a market cap of $7.79 billion, a P/E ratio of -46.63 and a beta of 1.35. The stock's 50 day simple moving average is $20.74 and its 200 day simple moving average is $19.84. Pan American Silver Corp. has a twelve month low of $12.16 and a twelve month high of $24.27. 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 - Get Free Report) TSE: PAAS last posted 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 analyst estimates 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 firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.04 EPS. On average, sell-side analysts expect that Pan American Silver Corp. will post 0.61 earnings per share for the current year.

Pan American Silver Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Monday, August 19th. Pan American Silver's dividend payout ratio (DPR) is presently -86.96%.

Analyst Ratings Changes

Several research firms recently weighed in on PAAS. Scotiabank raised their target price on shares of Pan American Silver from $23.00 to $26.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 16th. CIBC raised their price target on Pan American Silver from $30.00 to $35.00 and gave the company an "outperformer" rating in a report on Wednesday, July 10th. Jefferies Financial Group cut their price target on Pan American Silver from $22.00 to $21.00 and set a "hold" rating for the company in a report on Friday, September 13th. Finally, Royal Bank of Canada lifted their target price on Pan American Silver from $25.00 to $27.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.64.

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.