Gabelli Funds LLC Raises Stock Position in Pan American Silver Corp. (NYSE:PAAS)

Gabelli Funds LLC grew its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 3.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 451,100 shares of the basic materials company’s stock after acquiring an additional 13,000 shares during the quarter. Gabelli Funds LLC’s holdings in Pan American Silver were worth $9,121,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Comprehensive Financial Planning Inc. PA purchased a new stake in Pan American Silver during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC purchased a new stake in Pan American Silver during the 4th quarter valued at $30,000. Decker Retirement Planning Inc. bought a new stake in Pan American Silver in the fourth quarter worth $32,000. Wilmington Savings Fund Society FSB purchased a new position in Pan American Silver during the third quarter worth $32,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Pan American Silver during the fourth quarter valued at $32,000. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Trading Up 1.9 %

PAAS opened at $27.99 on Thursday. The company has a quick ratio of 0.96, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average is $24.95 and its two-hundred day moving average is $23.19. The company has a market capitalization of $10.14 billion, a P/E ratio of 87.47 and a beta of 1.06. Pan American Silver Corp. has a 52 week low of $17.86 and a 52 week high of $28.60.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. The firm had revenue of $815.10 million for the quarter, compared to analyst estimates of $805.20 million. Analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 1.43%. Pan American Silver’s dividend payout ratio is presently 125.00%.

Analyst Upgrades and Downgrades

PAAS has been the subject of several analyst reports. BMO Capital Markets initiated coverage on shares of Pan American Silver in a report on Wednesday. They issued a “market perform” rating for the company. National Bankshares reissued an “outperform” rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. Royal Bank of Canada upped their target price on Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Scotiabank reissued a “sector perform” rating on shares of Pan American Silver in a research note on Monday. Finally, TD Securities downgraded Pan American Silver from a “buy” rating to a “hold” rating and cut their price objective for the company from $28.00 to $27.00 in a research report on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.50.

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.