Allspring Global Investments Holdings LLC Has $6.09 Million Position in Pan American Silver Corp. (NYSE:PAAS)

Allspring Global Investments Holdings LLC lifted its holdings in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 56.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 418,000 shares of the basic materials company’s stock after purchasing an additional 150,500 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.20% of Pan American Silver worth $6,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PAAS. Moneta Group Investment Advisors LLC grew its position in shares of Pan American Silver by 94,294.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 35,309,364 shares of the basic materials company’s stock valued at $576,955,000 after purchasing an additional 35,271,958 shares during the period. Van ECK Associates Corp lifted its stake in Pan American Silver by 13.6% in the 1st quarter. Van ECK Associates Corp now owns 24,829,558 shares of the basic materials company’s stock valued at $451,896,000 after acquiring an additional 2,965,528 shares in the last quarter. Norges Bank bought a new stake in Pan American Silver in the 4th quarter valued at approximately $35,988,000. Millennium Management LLC lifted its stake in Pan American Silver by 1,104.8% in the 4th quarter. Millennium Management LLC now owns 2,049,031 shares of the basic materials company’s stock valued at $33,481,000 after acquiring an additional 1,878,957 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Pan American Silver by 230.1% in the 4th quarter. Mackenzie Financial Corp now owns 2,073,588 shares of the basic materials company’s stock valued at $33,790,000 after acquiring an additional 1,445,356 shares in the last quarter. 85.50% of the stock is currently owned by institutional investors and hedge funds.

Pan American Silver Stock Down 1.6 %

PAAS opened at $14.42 on Friday. Pan American Silver Corp. has a 1-year low of $13.40 and a 1-year high of $19.84. The stock’s fifty day simple moving average is $15.18 and its 200 day simple moving average is $15.30. The company has a current ratio of 2.13, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5.26 billion, a PE ratio of -11.92 and a beta of 1.24.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Thursday, August 10th. The basic materials company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). Pan American Silver had a negative net margin of 15.77% and a positive return on equity of 0.73%. The business had revenue of $639.90 million during the quarter, compared to the consensus estimate of $642.16 million. During the same quarter last year, the company posted ($0.03) EPS. The firm’s revenue was up 87.9% on a year-over-year basis. As a group, research analysts expect that Pan American Silver Corp. will post 0.35 earnings per share for the current year.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 21st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Friday, August 18th. Pan American Silver’s dividend payout ratio is -33.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com assumed coverage on Pan American Silver in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Canaccord Genuity Group dropped their price objective on Pan American Silver from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.88.

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, Argentina, and Bolivia. It holds interests in the La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, San Vicente, Joaquin, and Cap-Oeste Sur Este mines.