Barometer Capital Management Inc. Purchases New Stake in Pan American Silver Corp. $PAAS

Barometer Capital Management Inc. acquired a new position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 131,300 shares of the basic materials company’s stock, valued at approximately $5,085,000. Pan American Silver accounts for approximately 1.3% of Barometer Capital Management Inc.’s investment portfolio, making the stock its 26th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after buying an additional 387 shares during the period. Rothschild Investment LLC acquired a new position in shares of Pan American Silver in the 3rd quarter valued at $36,000. City State Bank lifted its stake 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 valued at $40,000 after purchasing an additional 435 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Pan American Silver by 93.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 497 shares during the last quarter. Finally, Assetmark Inc. grew its stake in shares of Pan American Silver by 3,111.4% during the third quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 1,089 shares during the period. 55.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PAAS. Bank of America upped their price objective on Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a report 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. Canadian Imperial Bank of Commerce set a $88.00 price target on Pan American Silver and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Wall Street Zen upgraded shares of Pan American Silver from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.60.

Pan American Silver Stock Down 1.1%

NYSE:PAAS opened at $60.83 on Thursday. Pan American Silver Corp. has a 1 year low of $20.55 and a 1 year high of $69.99. The stock has a 50-day moving average price of $58.97 and a two-hundred day moving average price of $46.75. The stock has a market cap of $25.66 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 0.57 and a beta of 0.62. The company has a current ratio of 2.69, a quick ratio of 1.97 and a debt-to-equity ratio of 0.11.

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

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.14. Pan American Silver’s dividend payout ratio (DPR) is currently 28.80%.

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.