Concurrent Investment Advisors LLC Makes New Investment in Pan American Silver Corp. (NYSE:PAAS)

Concurrent Investment Advisors LLC purchased a new position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,599 shares of the basic materials company’s stock, valued at approximately $222,000.

Several other hedge funds have also recently added to or reduced their stakes in PAAS. Norges Bank acquired a new position in Pan American Silver in the fourth quarter worth approximately $91,916,000. Hsbc Holdings PLC grew its position in Pan American Silver by 661.2% during the 4th quarter. Hsbc Holdings PLC now owns 1,307,617 shares of the basic materials company’s stock worth $26,300,000 after purchasing an additional 1,135,839 shares in the last quarter. Renaissance Technologies LLC grew its position in Pan American Silver by 110.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,498,246 shares of the basic materials company’s stock worth $30,295,000 after purchasing an additional 784,906 shares in the last quarter. Man Group plc grew its position in Pan American Silver by 381.7% during the 4th quarter. Man Group plc now owns 947,560 shares of the basic materials company’s stock worth $19,160,000 after purchasing an additional 750,858 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Pan American Silver by 2,009.4% during the 4th quarter. Two Sigma Investments LP now owns 651,584 shares of the basic materials company’s stock worth $13,175,000 after purchasing an additional 620,694 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Stock Performance

NYSE PAAS opened at $30.33 on Friday. The stock has a market cap of $10.98 billion, a P/E ratio of 34.86, a PEG ratio of 0.53 and a beta of 0.67. The company’s 50-day simple moving average is $26.79 and its 200 day simple moving average is $24.98. Pan American Silver Corp. has a twelve month low of $17.86 and a twelve month high of $30.48. The company has a quick ratio of 1.94, a current ratio of 2.93 and a debt-to-equity ratio of 0.16.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.23. The firm had revenue of $773.20 million for the quarter, compared to analysts’ expectations of $696.62 million. Pan American Silver had a net margin of 10.45% and a return on equity of 9.25%. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 earnings per share. As a group, research analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.32%. Pan American Silver’s dividend payout ratio is 45.98%.

Analysts Set New Price Targets

Several research firms have weighed in on PAAS. BMO Capital Markets began coverage on shares of Pan American Silver in a research report on Wednesday, April 16th. They set a “market perform” rating on the stock. TD Securities reduced their price objective on shares of Pan American Silver from $30.00 to $26.00 and set a “hold” rating for the company in a research note on Thursday, May 22nd. CIBC boosted their target price on shares of Pan American Silver from $38.00 to $42.00 and gave the stock an “outperformer” rating in a research report on Thursday, May 8th. Wall Street Zen raised shares of Pan American Silver from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 15th. Finally, Scotiabank reissued a “sector perform” rating on shares of Pan American Silver in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pan American Silver presently has a consensus rating of “Moderate Buy” and an average target price of $30.60.

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.