Bank of Nova Scotia Buys 12,977 Shares of Pan American Silver Corp. (NYSE:PAAS)

by · The Markets Daily

Bank of Nova Scotia boosted its stake in shares of Pan American Silver Corp. (NYSE:PAAS – Free Report) (TSE:PAAS) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 537,954 shares of the basic materials company’s stock after purchasing an additional 12,977 shares during the quarter. Bank of Nova Scotia owned about 0.15% of Pan American Silver worth $10,881,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Pan American Silver during the 4th quarter worth $27,000. Laurel Wealth Advisors LLC bought a new stake in Pan American Silver during the fourth quarter valued at about $30,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Pan American Silver in the third quarter valued at about $32,000. Decker Retirement Planning Inc. bought a new position in shares of Pan American Silver in the fourth quarter worth about $32,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Pan American Silver during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Price Performance

Shares of Pan American Silver stock opened at $24.85 on Friday. The firm has a market cap of $9.00 billion, a P/E ratio of 77.66 and a beta of 1.06. The firm’s 50-day simple moving average is $24.75 and its 200-day simple moving average is $23.06. Pan American Silver Corp. has a twelve month low of $17.86 and a twelve month high of $27.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.50.

Pan American Silver (NYSE:PAAS – Get Free Report) (TSE:PAAS) last released its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. The company had revenue of $815.10 million for the quarter, compared to the consensus estimate of $805.20 million. As a group, research analysts expect that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.40 annualized dividend and a yield of 1.61%. Pan American Silver’s dividend payout ratio is currently 125.00%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com downgraded Pan American Silver from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Royal Bank of Canada boosted their target price on shares of Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. National Bankshares reissued an “outperform” rating on shares of Pan American Silver in a report on Wednesday, April 2nd. TD Securities downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $28.00 to $27.00 in a report on Tuesday, March 11th. Finally, Scotiabank increased their target price on shares of Pan American Silver from $28.00 to $28.50 and gave the company a “sector outperform” rating in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.92.

Read Our Latest Stock Report on PAAS

Pan American Silver Profile

(Free Report)

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.

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