Hourglass Capital LLC Sells 10,000 Shares of Pan American Silver Corp. (NYSE:PAAS)

Hourglass Capital LLC lowered its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 50.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,000 shares of the basic materials company’s stock after selling 10,000 shares during the quarter. Hourglass Capital LLC’s holdings in Pan American Silver were worth $209,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Lighthouse Investment Partners LLC bought a new position in shares of Pan American Silver during the second quarter valued at approximately $990,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Pan American Silver during the second quarter worth $963,000. Cetera Investment Advisers purchased a new position in Pan American Silver in the 1st quarter worth about $1,565,000. Stratos Wealth Advisors LLC grew its stake in Pan American Silver by 33.4% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 159,268 shares of the basic materials company’s stock worth $3,324,000 after acquiring an additional 39,873 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in shares of Pan American Silver during the first quarter valued at approximately $421,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group lifted their price objective on shares of Pan American Silver from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, StockNews.com raised Pan American Silver from a “hold” rating to a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Pan American Silver currently has an average rating of “Moderate Buy” and an average target price of $24.93.

Pan American Silver Price Performance

NYSE:PAAS opened at $21.52 on Thursday. The company has a quick ratio of 0.96, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. Pan American Silver Corp. has a 52 week low of $12.16 and a 52 week high of $26.05. The stock’s 50-day moving average price is $22.08 and its 200-day moving average price is $21.25. The stock has a market capitalization of $7.81 billion, a PE ratio of -126.58 and a beta of 1.33.

Pan American Silver Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, November 18th. Pan American Silver’s payout ratio is -235.28%.

Pan American Silver Company 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.