Wilmington Savings Fund Society FSB Purchases New Shares in Pan American Silver Corp. (NYSE:PAAS)

Wilmington Savings Fund Society FSB acquired a new position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) in the third quarter, HoldingsChannel.com reports. The fund acquired 1,526 shares of the basic materials company’s stock, valued at approximately $32,000.

Several other hedge funds have also modified their holdings of PAAS. Van ECK Associates Corp raised its holdings in Pan American Silver by 6.3% in the 3rd quarter. Van ECK Associates Corp now owns 39,512,808 shares of the basic materials company’s stock worth $824,632,000 after purchasing an additional 2,328,306 shares during the period. Mackenzie Financial Corp lifted its position in shares of Pan American Silver by 51.1% during the 2nd quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company’s stock valued at $62,107,000 after buying an additional 1,056,981 shares in the last quarter. TD Asset Management Inc grew its stake in Pan American Silver by 22.1% in the 2nd quarter. TD Asset Management Inc now owns 2,186,157 shares of the basic materials company’s stock valued at $43,440,000 after acquiring an additional 395,589 shares during the period. Driehaus Capital Management LLC purchased a new stake in Pan American Silver in the 2nd quarter worth $38,116,000. Finally, The Manufacturers Life Insurance Company raised its position in Pan American Silver by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,829,052 shares of the basic materials company’s stock worth $36,300,000 after acquiring an additional 27,372 shares during the period. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Stock Performance

NYSE:PAAS opened at $20.58 on Monday. The company’s 50-day moving average is $22.72 and its two-hundred day moving average is $21.56. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of -121.05 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.96. Pan American Silver Corp. has a 1-year low of $12.16 and a 1-year high of $26.05.

Pan American Silver Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a $0.10 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.40 annualized dividend and a yield of 1.94%. Pan American Silver’s dividend payout ratio (DPR) is currently -235.29%.

Analysts Set New Price Targets

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

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.