Pendal Group Ltd Sells 371,890 Shares of Pan American Silver Corp. (PAAS)

Pendal Group Ltd lessened its holdings in Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) by 42.8% in the third quarter, HoldingsChannel.com reports. The fund owned 496,955 shares of the basic materials company’s stock after selling 371,890 shares during the period. Pendal Group Ltd’s holdings in Pan American Silver were worth $7,335,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in PAAS. LPL Financial LLC boosted its position in shares of Pan American Silver by 4.0% in the first quarter. LPL Financial LLC now owns 77,864 shares of the basic materials company’s stock valued at $1,258,000 after acquiring an additional 2,972 shares during the period. Guggenheim Capital LLC boosted its position in shares of Pan American Silver by 12.8% in the first quarter. Guggenheim Capital LLC now owns 203,370 shares of the basic materials company’s stock valued at $3,283,000 after acquiring an additional 23,023 shares during the period. Legal & General Group Plc boosted its position in shares of Pan American Silver by 33.7% in the first quarter. Legal & General Group Plc now owns 41,121 shares of the basic materials company’s stock valued at $662,000 after acquiring an additional 10,368 shares during the period. Foundry Partners LLC boosted its position in shares of Pan American Silver by 9.7% in the second quarter. Foundry Partners LLC now owns 582,940 shares of the basic materials company’s stock valued at $10,435,000 after acquiring an additional 51,330 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Pan American Silver in the second quarter valued at about $1,000,000. 49.23% of the stock is owned by institutional investors.

PAAS stock traded down $0.62 during midday trading on Wednesday, reaching $14.45. The company had a trading volume of 31,411 shares, compared to its average volume of 1,694,391. The company has a market cap of $2.37 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 6.89 and a beta of 0.21. Pan American Silver Corp. has a 1-year low of $13.97 and a 1-year high of $18.75.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, August 8th. The basic materials company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $213.63 million. As a group, analysts anticipate that Pan American Silver Corp. will post 0.56 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on the stock. TD Securities set a $23.00 target price on shares of Pan American Silver and gave the company a “buy” rating in a research report on Thursday, August 9th. ValuEngine raised shares of Pan American Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Deutsche Bank cut shares of Pan American Silver from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research report on Wednesday, July 11th. Scotiabank downgraded Pan American Silver from an “outperform” rating to a “sector perform” rating and set a $18.00 price target for the company. in a research note on Monday, July 16th. Finally, BidaskClub downgraded Pan American Silver from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 31st. One research 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 a consensus rating of “Buy” and a consensus target price of $20.33.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/11/07/pendal-group-ltd-sells-371890-shares-of-pan-american-silver-corp-paas.html.

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.

Further Reading: Consumer behavior in bull markets

Want to see what other hedge funds are holding PAAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS).

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

Receive News & Ratings for Pan American Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pan American Silver and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply