Mirae Asset Global Investments Co. Ltd. Invests $18.35 Million in Pan American Silver Corp. (PAAS)

Mirae Asset Global Investments Co. Ltd. bought a new stake in Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) in the third quarter, Holdings Channel reports. The institutional investor bought 1,243,491 shares of the basic materials company’s stock, valued at approximately $18,354,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in Pan American Silver by 25.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 152,687 shares of the basic materials company’s stock valued at $2,699,000 after purchasing an additional 30,748 shares during the last quarter. Tocqueville Asset Management L.P. raised its position in Pan American Silver by 0.9% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 4,724,126 shares of the basic materials company’s stock valued at $84,562,000 after purchasing an additional 40,000 shares during the last quarter. Gamco Investors INC. ET AL bought a new position in Pan American Silver during the 2nd quarter valued at approximately $297,000. Schroder Investment Management Group raised its position in Pan American Silver by 27.3% during the 2nd quarter. Schroder Investment Management Group now owns 222,803 shares of the basic materials company’s stock valued at $3,912,000 after purchasing an additional 47,793 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Pan American Silver by 6.7% during the 2nd quarter. Van ECK Associates Corp now owns 19,339,618 shares of the basic materials company’s stock valued at $346,179,000 after purchasing an additional 1,221,920 shares during the last quarter. 50.72% of the stock is owned by institutional investors.

PAAS stock opened at $12.90 on Friday. Pan American Silver Corp. has a fifty-two week low of $12.12 and a fifty-two week high of $18.75. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 6.41 and a beta of 0.21.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its earnings results on Tuesday, November 6th. The basic materials company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Pan American Silver had a return on equity of 5.15% and a net margin of 14.75%. The firm had revenue of $187.70 million for the quarter, compared to analysts’ expectations of $193.93 million. During the same quarter last year, the company posted $0.15 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Pan American Silver Corp. will post 0.5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Monday, November 19th were issued a dividend of $0.035 per share. The ex-dividend date was Friday, November 16th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.09%. Pan American Silver’s dividend payout ratio (DPR) is 27.45%.

A number of research analysts have commented on PAAS shares. Zacks Investment Research lowered Pan American Silver from a “hold” rating to a “sell” rating in a research report on Thursday, November 8th. Bank of America lowered Pan American Silver from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $16.70 to $12.75 in a research report on Monday, November 19th. BidaskClub lowered Pan American Silver from a “hold” rating to a “sell” rating in a research report on Wednesday. Deutsche Bank set a $18.00 target price on Pan American Silver and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Finally, ValuEngine downgraded Pan American Silver from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Pan American Silver presently has a consensus rating of “Hold” and a consensus price target of $18.09.

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Pan American Silver Company Profile

Pan American Silver Corp., together with its subsidiaries, engages in exploration, extraction, processing, refining, and reclamation of silver mines. The company owns and operates silver mines located in Peru, Mexico, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper. The company holds interests in the La Colorada, Dolores, Alamo Dorado, Huaron, Morococha, Manantial Espejo, and San Vicente mines.

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Institutional Ownership by Quarter for Pan American Silver (NASDAQ:PAAS)

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