SG Americas Securities LLC Sells 333,545 Shares of Pan American Silver Corp. $PAAS

SG Americas Securities LLC reduced its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 82.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 72,908 shares of the basic materials company’s stock after selling 333,545 shares during the quarter. SG Americas Securities LLC’s holdings in Pan American Silver were worth $2,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Spire Wealth Management purchased a new position in Pan American Silver during the 3rd quarter valued at about $779,000. Park Avenue Securities LLC bought a new position in shares of Pan American Silver in the third quarter valued at approximately $354,000. MassMutual Private Wealth & Trust FSB grew its stake in Pan American Silver by 18.1% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 2,373 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 364 shares in the last quarter. Avalon Capital Management purchased a new position in Pan American Silver during the third quarter valued at approximately $271,000. Finally, Cigna Investments Inc. New bought a new stake in Pan American Silver during the 3rd quarter worth approximately $295,000. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PAAS. Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a report on Monday, December 29th. CIBC increased their price objective on Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Wall Street Zen lowered Pan American Silver from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group restated a “hold” rating and issued a $50.00 target price on shares of Pan American Silver in a research note on Sunday, December 7th. Finally, Scotiabank raised their price target on Pan American Silver from $36.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.33.

Pan American Silver Stock Up 2.6%

Shares of NYSE:PAAS opened at $55.68 on Tuesday. The firm has a market capitalization of $23.50 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 0.33 and a beta of 0.67. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.55 and a current ratio of 2.31. Pan American Silver Corp. has a 52-week low of $20.35 and a 52-week high of $56.69. The firm has a fifty day moving average of $45.87 and a 200 day moving average of $37.89.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pan American Silver had a return on equity of 11.66% and a net margin of 19.52%.The firm had revenue of $854.60 million for the quarter, compared to the consensus estimate of $867.76 million. During the same period last year, the firm earned $0.32 EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, research analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 24th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, November 24th. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.12. Pan American Silver’s dividend payout ratio is presently 32.37%.

Pan American Silver Company Profile

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.