International Assets Investment Management LLC Acquires Shares of 79,496 Pan American Silver Corp. (NYSE:PAAS)

International Assets Investment Management LLC purchased a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 79,496 shares of the basic materials company’s stock, valued at approximately $1,659,000.

Other hedge funds also recently added to or reduced their stakes in the company. Eastern Bank purchased a new position in shares of Pan American Silver during the third quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC grew its position in Pan American Silver by 943.4% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 1,500 shares during the last quarter. Perritt Capital Management Inc. increased its stake in 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 worth $35,000 after purchasing an additional 1,000 shares during the period. CWM LLC lifted its position 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 during the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings 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 worth $78,000 after purchasing an additional 2,200 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors.

Pan American Silver Stock Performance

Shares of PAAS stock opened at $22.99 on Monday. The company’s 50 day moving average is $21.74 and its 200 day moving average is $21.05. The company has a quick ratio of 0.92, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of -58.95 and a beta of 1.33. Pan American Silver Corp. has a 52-week low of $12.16 and a 52-week high of $26.05.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). Pan American Silver had a positive return on equity of 0.66% and a negative net margin of 5.54%. The company had revenue of $686.30 million during the quarter, compared to the consensus estimate of $696.08 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Pan American Silver Corp. will post 0.66 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Monday, August 19th. Pan American Silver’s dividend payout ratio is currently -102.56%.

Analysts Set New Price Targets

PAAS has been the subject of a number of research analyst reports. Scotiabank lifted their price objective on shares of Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 16th. CIBC lifted their price target on shares of Pan American Silver from $30.00 to $35.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Royal Bank of Canada increased their price objective on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group lifted their target price on Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Pan American Silver presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.93.

Pan American Silver 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.