Alpine Associates Management Inc. Buys New Stake in Pan American Silver Corp. $PAAS

Alpine Associates Management Inc. purchased a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 120,616 shares of the basic materials company’s stock, valued at approximately $4,671,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. XTX Topco Ltd increased its position in Pan American Silver by 123.9% in the 2nd quarter. XTX Topco Ltd now owns 52,331 shares of the basic materials company’s stock valued at $1,486,000 after acquiring an additional 28,963 shares during the period. Knights of Columbus Asset Advisors LLC raised its holdings in Pan American Silver by 176.9% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 114,780 shares of the basic materials company’s stock worth $4,445,000 after purchasing an additional 73,326 shares during the last quarter. J. Safra Sarasin Holding AG boosted its position in shares of Pan American Silver by 117.9% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 43,946 shares of the basic materials company’s stock worth $1,702,000 after buying an additional 23,780 shares in the last quarter. Hollencrest Capital Management grew its holdings in Pan American Silver by 214.3% during the 3rd quarter. Hollencrest Capital Management now owns 121,633 shares of the basic materials company’s stock valued at $4,711,000 after buying an additional 82,932 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its position in Pan American Silver by 363.2% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 151,801 shares of the basic materials company’s stock worth $5,879,000 after purchasing an additional 119,028 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PAAS shares. Bank of America upped their price objective on shares of Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Zacks Research lowered Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Jefferies Financial Group cut their price objective on shares of Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Wednesday, January 21st. Scotiabank upped their price target on shares of Pan American Silver from $47.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.60.

Pan American Silver Price Performance

Shares of NYSE:PAAS opened at $54.56 on Friday. The stock has a market cap of $23.02 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 0.60 and a beta of 0.66. 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 Corp. has a 12 month low of $20.55 and a 12 month high of $69.99. The stock’s 50 day moving average price is $54.63 and its 200 day moving average price is $42.44.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $854.60 million for the quarter, compared to analyst estimates of $867.76 million. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities research analysts anticipate that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

About Pan American Silver

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.