Citigroup Inc. Buys 321,967 Shares of Pan American Silver Corp. $PAAS

Citigroup Inc. grew its stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 95.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 660,139 shares of the basic materials company’s stock after purchasing an additional 321,967 shares during the period. Citigroup Inc. owned approximately 0.16% of Pan American Silver worth $25,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PAAS. MassMutual Private Wealth & Trust FSB boosted its stake in Pan American Silver by 18.1% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 2,373 shares of the basic materials company’s stock worth $92,000 after acquiring an additional 364 shares in the last quarter. City State Bank boosted its position in shares of Pan American Silver by 74.4% in the 3rd quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 435 shares in the last quarter. Truist Financial Corp grew its stake in shares of Pan American Silver by 0.9% in the 3rd quarter. Truist Financial Corp now owns 50,796 shares of the basic materials company’s stock worth $1,967,000 after buying an additional 436 shares during the last quarter. CWM LLC increased its position in Pan American Silver by 32.1% during the 2nd quarter. CWM LLC now owns 2,264 shares of the basic materials company’s stock valued at $64,000 after buying an additional 550 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Pan American Silver by 53.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company’s stock valued at $48,000 after buying an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Canadian Imperial Bank of Commerce set a $88.00 target price on Pan American Silver and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Wall Street Zen upgraded Pan American Silver from a “buy” rating to a “strong-buy” rating in a report on Sunday. Bank of America boosted their target price on Pan American Silver from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Jefferies Financial Group dropped their price target 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. Finally, Scotiabank boosted their price objective 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. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.60.

Pan American Silver Stock Down 1.7%

PAAS stock opened at $64.26 on Thursday. The business’s 50-day moving average price is $56.97 and its 200-day moving average price is $44.57. The stock has a market cap of $27.11 billion, a P/E ratio of 25.70, a PEG ratio of 0.62 and a beta of 0.66. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.11. Pan American Silver Corp. has a twelve month low of $20.55 and a twelve month high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.21. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Pan American Silver had a return on equity of 16.38% and a net margin of 27.07%.The business’s quarterly revenue was up 44.7% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. On average, equities research analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. This is an increase from Pan American Silver’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, March 2nd. Pan American Silver’s dividend payout ratio (DPR) is 22.40%.

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.