Bank of New York Mellon Corp Sells 393,989 Shares of Pan American Silver Corp. $PAAS

Bank of New York Mellon Corp trimmed its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 45.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 482,208 shares of the basic materials company’s stock after selling 393,989 shares during the quarter. Bank of New York Mellon Corp owned about 0.11% of Pan American Silver worth $26,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PAAS. Vanguard Group Inc. raised its stake 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 in the last quarter. Invesco Ltd. raised its position in shares of Pan American Silver by 9.8% during the 3rd quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company’s stock valued at $383,365,000 after buying an additional 882,135 shares in the last quarter. FIL Ltd raised its position in shares of Pan American Silver by 154.7% during the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock valued at $378,872,000 after buying an additional 4,438,478 shares in the last quarter. Norges Bank bought a new stake in shares of Pan American Silver during the 4th quarter worth $303,611,000. Finally, Capital International Investors purchased a new position in Pan American Silver in the fourth quarter worth $215,484,000. 55.43% of the stock is currently owned by institutional investors.

Pan American Silver Stock Performance

NYSE PAAS opened at $44.12 on Tuesday. The company has a 50-day simple moving average of $47.85 and a two-hundred day simple moving average of $54.10. The company has a quick ratio of 2.11, a current ratio of 2.84 and a debt-to-equity ratio of 0.11. Pan American Silver Corp. has a 12-month low of $26.76 and a 12-month high of $69.99. The firm has a market cap of $18.40 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 3.90 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $1.33 billion for 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%.The company’s revenue for the quarter was up 49.3% compared to the same quarter last year. During the same period last year, the firm earned $0.42 earnings per share. On average, equities analysts forecast that Pan American Silver Corp. will post 4.02 EPS for the current year.

Pan American Silver Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Scotiabank reissued an “outperform” rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Wall Street Zen lowered Pan American Silver from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Jefferies Financial Group cut their price objective on Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a report on Monday, July 6th. Bank of America reduced their price objective on Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and raised their price objective for the company from $67.00 to $72.00 in a report on Tuesday, May 12th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.43.

Pan American Silver 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.