Lee Danner & Bass Inc. Purchases Shares of 15,036 Pan American Silver Corp. (NYSE:PAAS)

Lee Danner & Bass Inc. purchased a new stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 15,036 shares of the basic materials company’s stock, valued at approximately $299,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PAAS. Van ECK Associates Corp increased its position in shares of Pan American Silver by 1.4% in the first quarter. Van ECK Associates Corp now owns 46,486,439 shares of the basic materials company’s stock valued at $701,016,000 after acquiring an additional 653,064 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Pan American Silver by 1.2% in the first quarter. Vanguard Group Inc. now owns 13,225,480 shares of the basic materials company’s stock valued at $199,440,000 after acquiring an additional 159,908 shares during the last quarter. Norges Bank acquired a new stake in shares of Pan American Silver in the fourth quarter valued at about $63,066,000. Tidal Investments LLC increased its position in shares of Pan American Silver by 15,618.3% in the first quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock valued at $57,340,000 after acquiring an additional 3,779,309 shares during the last quarter. Finally, Sprott Inc. increased its position in shares of Pan American Silver by 3.7% in the fourth quarter. Sprott Inc. now owns 3,046,124 shares of the basic materials company’s stock valued at $49,746,000 after acquiring an additional 107,965 shares during the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Pan American Silver from $22.00 to $24.00 in a research report on Tuesday, May 21st. Jefferies Financial Group lifted their price target on Pan American Silver from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Scotiabank lifted their price target on Pan American Silver from $23.00 to $26.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 16th. StockNews.com upgraded Pan American Silver from a “sell” rating to a “hold” rating in a report on Saturday, May 11th. Finally, CIBC lifted their price target on Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.42.

Pan American Silver Trading Down 1.3 %

Shares of NYSE:PAAS opened at $20.21 on Friday. Pan American Silver Corp. has a 12-month low of $12.16 and a 12-month high of $24.27. The stock has a market cap of $7.34 billion, a PE ratio of -43.93 and a beta of 1.31. The business has a 50 day moving average of $21.22 and a 200-day moving average of $18.76. The company has a quick ratio of 0.92, a current ratio of 2.06 and a debt-to-equity ratio of 0.16.

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 analysts’ consensus estimates 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 firm had revenue of $686.30 million for the quarter, compared to the consensus estimate of $696.08 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The company’s revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that Pan American Silver Corp. will post 0.61 earnings per share for the current year.

Pan American Silver Dividend Announcement

The company also recently disclosed 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 1.98%. The ex-dividend date was Monday, August 19th. Pan American Silver’s dividend payout ratio is presently -86.96%.

About Pan American Silver

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.