Raymond James & Associates Has $1.79 Million Holdings in Pan American Silver Corp. (PAAS)

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Raymond James & Associates cut its position in shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) by 9.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,203 shares of the basic materials company’s stock after selling 11,013 shares during the quarter. Raymond James & Associates owned 0.07% of Pan American Silver worth $1,794,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC increased its holdings in shares of Pan American Silver by 4.0% in the 1st quarter. LPL Financial LLC now owns 77,864 shares of the basic materials company’s stock valued at $1,258,000 after purchasing an additional 2,972 shares during the period. First Manhattan Co. increased its holdings in shares of Pan American Silver by 0.6% in the 2nd quarter. First Manhattan Co. now owns 531,365 shares of the basic materials company’s stock valued at $9,511,000 after purchasing an additional 3,250 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Pan American Silver by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 753,267 shares of the basic materials company’s stock valued at $13,483,000 after purchasing an additional 3,296 shares during the period. Sigma Planning Corp increased its holdings in shares of Pan American Silver by 22.7% in the 2nd quarter. Sigma Planning Corp now owns 18,168 shares of the basic materials company’s stock valued at $325,000 after purchasing an additional 3,367 shares during the period. Finally, Fiera Capital Corp increased its holdings in shares of Pan American Silver by 26.7% in the 2nd quarter. Fiera Capital Corp now owns 19,000 shares of the basic materials company’s stock valued at $341,000 after purchasing an additional 4,000 shares during the period. 49.25% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on PAAS. TD Securities set a $23.00 target price on Pan American Silver and gave the company a “buy” rating in a report on Thursday, August 9th. ValuEngine upgraded Pan American Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Deutsche Bank downgraded Pan American Silver from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a report on Wednesday, July 11th. Scotiabank downgraded Pan American Silver from an “outperform” rating to a “sector perform” rating and set a $18.00 target price on the stock. in a report on Monday, July 16th. Finally, BidaskClub downgraded Pan American Silver from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.33.

NASDAQ:PAAS opened at $15.22 on Friday. Pan American Silver Corp. has a 52 week low of $13.97 and a 52 week high of $18.75. The company has a market capitalization of $2.26 billion, a P/E ratio of 29.84, a PEG ratio of 5.83 and a beta of 0.19.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, August 8th. The basic materials company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. Pan American Silver had a return on equity of 7.06% and a net margin of 17.95%. The firm had revenue of $216.46 million for the quarter, compared to the consensus estimate of $213.63 million. Analysts expect that Pan American Silver Corp. will post 0.63 EPS for the current fiscal year.

Pan American Silver Company Profile

Pan American Silver Corp., together with its subsidiaries, engages in exploration, extraction, processing, refining, and reclamation of silver mines. The company owns and operates silver mines located in Peru, Mexico, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper. The company holds interests in the La Colorada, Dolores, Alamo Dorado, Huaron, Morococha, Manantial Espejo, and San Vicente mines.

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Institutional Ownership by Quarter for Pan American Silver (NASDAQ:PAAS)

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