Pan American Silver Corp. (NYSE:PAAS) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 162,845 shares of the basic materials company’s stock after selling 10,624 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pan American Silver were worth $3,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Janus Henderson Group PLC grew its stake in shares of Pan American Silver by 121.6% in the first quarter. Janus Henderson Group PLC now owns 45,279 shares of the basic materials company’s stock valued at $682,000 after buying an additional 24,847 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Pan American Silver during the first quarter worth about $1,565,000. CWM LLC lifted its position in shares of Pan American Silver by 31.6% during the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 510 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Pan American Silver by 2.2% in the second quarter. Raymond James & Associates now owns 225,757 shares of the basic materials company’s stock valued at $4,488,000 after purchasing an additional 4,811 shares during the period. Finally, Byrne Asset Management LLC acquired a new position in shares of Pan American Silver in the second quarter valued at approximately $445,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PAAS shares. Jefferies Financial Group increased their target price on shares of Pan American Silver from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, October 4th. 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 report on Tuesday, September 10th. Finally, StockNews.com cut Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.42.

Pan American Silver Trading Down 2.9 %

NYSE:PAAS opened at $21.33 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.06. Pan American Silver Corp. has a 1 year low of $12.16 and a 1 year high of $26.05. The stock has a market cap of $7.74 billion, a P/E ratio of -127.46 and a beta of 1.33. The stock has a 50-day simple moving average of $22.55 and a 200-day simple moving average of $21.50.

Pan American Silver Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was 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.