Fmr LLC Buys 1,275,475 Shares of Pan American Silver Corp. (NYSE:PAAS)

Fmr LLC lifted its stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 1,834.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,344,991 shares of the basic materials company’s stock after acquiring an additional 1,275,475 shares during the period. Fmr LLC’s holdings in Pan American Silver were worth $28,084,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eastern Bank acquired a new position in shares of Pan American Silver in the 3rd quarter worth approximately $28,000. Mark Sheptoff Financial Planning LLC lifted its position in shares of Pan American Silver by 943.4% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,500 shares during the period. CWM LLC lifted its position in shares of Pan American Silver by 31.6% in the 2nd quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 510 shares during the period. US Bancorp DE lifted its position in shares of Pan American Silver by 13.4% in the 3rd quarter. US Bancorp DE now owns 5,600 shares of the basic materials company’s stock worth $117,000 after purchasing an additional 660 shares during the period. Finally, Signaturefd LLC lifted its position in shares of Pan American Silver by 11.6% in the 2nd quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 774 shares during the period. 55.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. StockNews.com downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday, December 1st. Finally, Jefferies Financial Group boosted their target price on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.42.

Pan American Silver Stock Performance

Shares of PAAS stock opened at $23.28 on Tuesday. The firm has a market capitalization of $8.45 billion, a PE ratio of -136.93 and a beta of 1.28. The firm has a fifty day simple moving average of $22.65 and a two-hundred day simple moving average of $21.54. The company has a current ratio of 2.06, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Pan American Silver Corp. has a 12 month low of $12.16 and a 12 month high of $26.05.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, November 18th. This represents a $0.40 dividend on an annualized basis and a yield of 1.72%. Pan American Silver’s dividend payout ratio (DPR) is presently -235.28%.

About Pan American Silver

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.