Royal Fund Management LLC Makes New Investment in Pan American Silver Corp. (NYSE:PAAS)

Royal Fund Management LLC bought a new stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 3rd quarter, Holdings Channel reports. The fund bought 103,020 shares of the basic materials company’s stock, valued at approximately $2,150,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Mark Sheptoff Financial Planning LLC raised its holdings in Pan American Silver by 943.4% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 1,500 shares in the last quarter. Perritt Capital Management Inc. raised its stake in shares of Pan American Silver by 76.9% in the 1st quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. CWM LLC lifted its position in shares of Pan American Silver by 31.6% during the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 510 shares during the last quarter. UniSuper Management Pty Ltd grew its stake in Pan American Silver by 73.3% in the first quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Pan American Silver by 11.6% in the second quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 774 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on PAAS. Royal Bank of Canada increased their target price on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Scotiabank lifted their price objective on shares of Pan American Silver from $23.00 to $26.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 16th. CIBC increased their target price on shares of Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group lifted their price target on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.93.

Pan American Silver Stock Performance

NYSE:PAAS traded down $0.27 during mid-day trading on Wednesday, hitting $20.91. The stock had a trading volume of 101,689 shares, compared to its average volume of 4,077,536. The company has a current ratio of 2.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The company has a 50 day simple moving average of $20.62 and a 200-day simple moving average of $20.24. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of -46.04 and a beta of 1.35. Pan American Silver Corp. has a 52 week low of $12.16 and a 52 week high of $24.27.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). Pan American Silver had a positive return on equity of 0.66% and a negative net margin of 5.54%. The business had revenue of $686.30 million for the quarter, compared to analyst estimates of $696.08 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, research analysts expect that Pan American Silver Corp. will post 0.62 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Monday, August 19th. Pan American Silver’s dividend payout ratio (DPR) is -86.96%.

Pan American Silver Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.