Bank of Nova Scotia Sells 45,310 Shares of Pan American Silver Corp. $PAAS

Bank of Nova Scotia trimmed its stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 605,882 shares of the basic materials company’s stock after selling 45,310 shares during the period. Bank of Nova Scotia owned approximately 0.14% of Pan American Silver worth $33,135,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Pan American Silver by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company’s stock valued at $905,513,000 after purchasing an additional 274,168 shares during the last quarter. Ninety One UK Ltd boosted its holdings in Pan American Silver by 3.2% during the fourth quarter. Ninety One UK Ltd now owns 2,225,237 shares of the basic materials company’s stock worth $115,290,000 after buying an additional 69,985 shares during the last quarter. Elevatus Welath Management acquired a new position in shares of Pan American Silver during the 4th quarter worth about $3,371,000. Swiss Life Asset Management Ltd increased its stake in shares of Pan American Silver by 46.9% in the 4th quarter. Swiss Life Asset Management Ltd now owns 58,827 shares of the basic materials company’s stock valued at $3,051,000 after acquiring an additional 18,791 shares during the last quarter. Finally, Royal Palms Capital LLC acquired a new stake in shares of Pan American Silver in the 4th quarter valued at approximately $2,170,000. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Down 0.4%

Shares of PAAS stock opened at $44.03 on Friday. The firm’s fifty day moving average price is $48.07 and its two-hundred day moving average price is $54.17. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. Pan American Silver Corp. has a 1 year low of $26.76 and a 1 year high of $69.99. The firm has a market capitalization of $18.36 billion, a P/E ratio of 14.16, a PEG ratio of 3.91 and a beta of 0.72.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.Pan American Silver’s revenue for the quarter was up 49.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. On average, equities analysts predict that Pan American Silver Corp. will post 4.02 EPS for the current fiscal year.

Pan American Silver Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.6%. Pan American Silver’s payout ratio is 23.15%.

Analysts Set New Price Targets

PAAS has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Pan American Silver in a research note on Tuesday, April 28th. Weiss Ratings downgraded Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Wall Street Zen lowered Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. TD Securities upgraded Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Monday, May 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of Pan American Silver in a report on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

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.