Van Eck Associates Corp. recently announced the acquisition of new stake in Pan American Silver Corp (NYSE:PAAS). The institutional investor has increased its shareholding in the Basic Materials company by 7.33% to 40.99 million shares with purchase of 2.8 million shares. This fresh investment now brings its stake to 11.25% valued currently at $641.92 million. In addition, Fidelity Investments Canada ULC raised its holdings by 1.29 million to 10.11 million shares. And The Vanguard Group, Inc. has lifted its position by 1.01% or 93318.0 shares – to 9.32 million shares.
Currently, there are 364.44M common shares owned by the public and among those 363.69M shares have been available to trade.
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The top 3 mutual fund holders in Pan American Silver Corp are VanEck Gold Miners ETF, VanEck Junior Gold Miners ETF, and Global X Silver Miners ETF. VanEck Gold Miners ETF owns 20.66 million shares of the company’s stock, all valued at over $323.56 million. Global X Silver Miners ETF now owns shares totaling to 2.24% of the shares outstanding.
However, the script later moved the day high at 16.21, up 4.73%. The company’s stock has a 5-day price change of 12.62% and -0.12% over the past three months. PAAS shares are trading -1.16% year to date (YTD), with the 12-month market performance up to 1.06% higher. It has a 12-month low price of $13.13 and touched a high of $19.84 over the same period. PAAS has an average intraday trading volume of 3.42 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.13%, 8.77%, and 2.12% respectively.
Institutional ownership of Pan American Silver Corp (NYSE: PAAS) shares accounts for 56.50% of the company’s 364.44M shares outstanding. Mutual fund holders own 49.32%, while other institutional holders and individual stakeholders account for 7.90% and — respectively.
It has a market capitalization of $5.89B and a beta (3y monthly) value of 1.40. The earnings-per-share (ttm) stands at -$0.93. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.22% over the week and 3.32% over the month.
Analysts forecast that Pan American Silver Corp (PAAS) will achieve an EPS of $0.12 for the current quarter, $0.13 for the next quarter and $0.73 for 2024. The lowest estimate earnings-per-share for the quarter is $0.03 while analysts give the company a high EPS estimate of $0.26. Comparatively, EPS for the current quarter was -$0.02 a year ago. Earnings per share for the fiscal year are expected to increase by 144.44%, and 260.80% over the next financial year.
