Cadence Wealth Management LLC Boosts Holdings in Pan American Silver Corp. (NYSE:PAAS)

Cadence Wealth Management LLC lifted its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,059 shares of the basic materials company’s stock after acquiring an additional 3,584 shares during the quarter. Pan American Silver accounts for approximately 0.6% of Cadence Wealth Management LLC’s investment portfolio, making the stock its 12th biggest holding. Cadence Wealth Management LLC’s holdings in Pan American Silver were worth $785,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PAAS. AE Wealth Management LLC raised its position in shares of Pan American Silver by 5.2% during the 3rd quarter. AE Wealth Management LLC now owns 24,499 shares of the basic materials company’s stock worth $355,000 after purchasing an additional 1,204 shares during the last quarter. DAVENPORT & Co LLC raised its position in shares of Pan American Silver by 127.1% during the 3rd quarter. DAVENPORT & Co LLC now owns 29,731 shares of the basic materials company’s stock worth $431,000 after purchasing an additional 16,639 shares during the last quarter. Raymond James & Associates raised its position in shares of Pan American Silver by 4.3% during the 3rd quarter. Raymond James & Associates now owns 331,580 shares of the basic materials company’s stock worth $4,801,000 after purchasing an additional 13,763 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Pan American Silver by 1.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 116,315 shares of the basic materials company’s stock worth $1,684,000 after purchasing an additional 1,337 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Pan American Silver by 5.0% during the 3rd quarter. Mackenzie Financial Corp now owns 3,204,694 shares of the basic materials company’s stock worth $44,012,000 after purchasing an additional 153,568 shares during the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of Pan American Silver from $14.00 to $17.00 and gave the company a “hold” rating in a report on Monday, April 22nd. StockNews.com downgraded shares of Pan American Silver from a “hold” rating to a “sell” rating in a report on Monday, January 15th. BMO Capital Markets cut their price objective on shares of Pan American Silver from $27.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, January 18th. Scotiabank raised their price target on shares of Pan American Silver from $19.50 to $20.00 and gave the stock a “sector outperform” rating in a report on Monday, April 8th. Finally, CIBC cut their price target on shares of Pan American Silver from $28.00 to $27.50 and set an “outperform” rating for the company in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Pan American Silver Stock Up 0.3 %

PAAS stock traded up $0.05 during midday trading on Friday, hitting $19.02. The company’s stock had a trading volume of 2,535,871 shares, compared to its average volume of 6,713,105. The company has a quick ratio of 1.09, a current ratio of 2.23 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 $20.60. The firm has a market capitalization of $6.91 billion, a P/E ratio of -63.40, a PEG ratio of 3.14 and a beta of 1.44. The firm has a 50-day simple moving average of $15.48 and a 200-day simple moving average of $15.00.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.12). Pan American Silver had a negative net margin of 5.24% and a positive return on equity of 0.44%. The business had revenue of $669.60 million during the quarter, compared to analysts’ expectations of $657.65 million. During the same period in the prior year, the business earned ($0.02) EPS. As a group, equities analysts forecast that Pan American Silver Corp. will post 0.38 EPS for the current year.

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.10%. Pan American Silver’s payout ratio is -133.33%.

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.