Alps Advisors Inc. boosted its stake in Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) by 55.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,015 shares of the basic materials company’s stock after buying an additional 194,385 shares during the quarter. Alps Advisors Inc. owned approximately 0.36% of Pan American Silver worth $8,465,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in PAAS. American Century Companies Inc. boosted its stake in Pan American Silver by 39.0% in the fourth quarter. American Century Companies Inc. now owns 431,000 shares of the basic materials company’s stock worth $6,706,000 after purchasing an additional 121,030 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in Pan American Silver in the fourth quarter worth $718,000. Foundry Partners LLC boosted its stake in Pan American Silver by 3.3% in the fourth quarter. Foundry Partners LLC now owns 498,713 shares of the basic materials company’s stock worth $7,760,000 after purchasing an additional 15,881 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Pan American Silver in the fourth quarter worth $1,144,000. Finally, SG Americas Securities LLC acquired a new position in Pan American Silver in the fourth quarter worth $131,000. 49.75% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on PAAS. B. Riley reissued a “neutral” rating on shares of Pan American Silver in a research note on Wednesday, November 1st. BidaskClub raised Pan American Silver from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research raised Pan American Silver from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Wednesday. BMO Capital Markets set a $21.00 price target on Pan American Silver and gave the company a “buy” rating in a research note on Thursday, November 23rd. Finally, Citigroup raised Pan American Silver to an “outperform” rating in a research note on Tuesday, November 21st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $20.91.
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Pan American Silver Company Profile
Pan American Silver Corp. is a silver production company. The Company is principally engaged in the operation and development of, and exploration for, silver producing properties. The Company’s segments include Peru, Mexico, Argentina and Bolivia. The Company also produces and sells gold, zinc, lead and copper.
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