Virtu Financial LLC Takes Position in Pan American Silver Corp. (NYSE:PAAS)

Virtu Financial LLC bought a new stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the 1st quarter, Holdings Channel reports. The institutional investor bought 31,742 shares of the basic materials company’s stock, valued at approximately $479,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAAS. Perritt Capital Management Inc. grew its position in shares of Pan American Silver by 76.9% in the first 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 during the period. Parkside Financial Bank & Trust grew its holdings in Pan American Silver by 455.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,658 shares of the basic materials company’s stock valued at $60,000 after buying an additional 3,000 shares during the period. UniSuper Management Pty Ltd increased its stake in shares of Pan American Silver by 73.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 2,200 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Pan American Silver during the 4th quarter worth about $103,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Pan American Silver by 446.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 8,781 shares of the basic materials company’s stock worth $143,000 after acquiring an additional 7,174 shares during the last quarter. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Pan American Silver Stock Down 5.0 %

Shares of NYSE:PAAS opened at $21.00 on Friday. The business’s 50-day simple moving average is $21.38 and its 200 day simple moving average is $17.83. The company has a current ratio of 2.11, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. Pan American Silver Corp. has a one year low of $12.16 and a one year high of $24.27.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, May 8th. The basic materials company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The business had revenue of $601.40 million for the quarter, compared to analysts’ expectations of $592.58 million. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.13%. The business’s revenue for the quarter was up 54.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, equities research analysts forecast that Pan American Silver Corp. will post 0.66 earnings per share for the current year.

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Tuesday, May 21st were given a $0.10 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.90%. Pan American Silver’s payout ratio is currently -86.96%.

Analyst Ratings Changes

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

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.