CIBC Asset Management Inc Decreases Holdings in Pan American Silver Corp. $PAAS

CIBC Asset Management Inc decreased its holdings in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 73.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 494,937 shares of the basic materials company’s stock after selling 1,360,462 shares during the quarter. CIBC Asset Management Inc owned about 0.12% of Pan American Silver worth $19,157,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. City State Bank lifted its stake in shares of Pan American Silver by 74.4% during the third quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock worth $40,000 after buying an additional 435 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Pan American Silver by 53.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company’s stock worth $48,000 after buying an additional 594 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in Pan American Silver during the second quarter valued at $51,000. Kiker Wealth Management LLC increased its position in shares of Pan American Silver by 42.4% in the second quarter. Kiker Wealth Management LLC now owns 2,014 shares of the basic materials company’s stock valued at $57,000 after buying an additional 600 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Pan American Silver during the third quarter worth $58,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Zacks Research cut shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Bank of America lifted their price objective on Pan American Silver from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Scotiabank increased their target price on Pan American Silver from $36.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. CIBC raised their target price on Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

Pan American Silver Trading Up 4.5%

PAAS opened at $64.50 on Monday. The firm has a market capitalization of $27.21 billion, a price-to-earnings ratio of 37.28, a price-to-earnings-growth ratio of 0.42 and a beta of 0.67. The company’s 50 day simple moving average is $49.74 and its two-hundred day simple moving average is $39.73. Pan American Silver Corp. has a 1-year low of $20.55 and a 1-year high of $65.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.31 and a quick ratio of 1.55.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%. The company had revenue of $854.60 million during the quarter, compared to analysts’ expectations of $867.76 million. During the same quarter last year, the company earned $0.32 earnings per share. Pan American Silver’s revenue for the quarter was up 19.3% on a year-over-year basis. Analysts expect that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 24th were issued a dividend of $0.14 per share. The ex-dividend date was Monday, November 24th. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.12. Pan American Silver’s payout ratio is presently 32.37%.

Pan American Silver Company Profile

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.