Cadence Wealth Management LLC Raises Stock Position in Pan American Silver Corp. (NYSE:PAAS)

Cadence Wealth Management LLC grew its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,788 shares of the basic materials company’s stock after purchasing an additional 1,229 shares during the period. Pan American Silver comprises about 0.5% of Cadence Wealth Management LLC’s portfolio, making the stock its 18th biggest position. Cadence Wealth Management LLC’s holdings in Pan American Silver were worth $805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Janney Montgomery Scott LLC grew its position in shares of Pan American Silver by 12.6% during the third quarter. Janney Montgomery Scott LLC now owns 37,962 shares of the basic materials company’s stock worth $792,000 after buying an additional 4,258 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Pan American Silver during the third quarter worth about $212,000. Swiss National Bank grew its position in shares of Pan American Silver by 0.3% during the third quarter. Swiss National Bank now owns 1,097,619 shares of the basic materials company’s stock worth $22,955,000 after buying an additional 3,400 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Pan American Silver by 3.7% during the third quarter. Advisors Asset Management Inc. now owns 26,751 shares of the basic materials company’s stock worth $558,000 after buying an additional 951 shares in the last quarter. Finally, Foundry Partners LLC grew its position in shares of Pan American Silver by 22.7% during the third quarter. Foundry Partners LLC now owns 320,069 shares of the basic materials company’s stock worth $6,680,000 after buying an additional 59,304 shares in the last quarter. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PAAS. Scotiabank boosted their price objective on Pan American Silver from $28.00 to $28.50 and gave the stock a “sector outperform” rating in a research report on Tuesday, February 25th. TD Securities downgraded Pan American Silver from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $28.00 to $27.00 in a research report on Tuesday, March 11th. Royal Bank of Canada upped their price target on Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Finally, StockNews.com downgraded Pan American Silver from a “buy” rating to a “hold” rating in a report on Sunday, December 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Pan American Silver currently has a consensus rating of “Hold” and an average target price of $27.92.

Pan American Silver Price Performance

PAAS stock opened at $26.70 on Tuesday. The company has a market capitalization of $9.67 billion, a P/E ratio of 83.42 and a beta of 1.25. Pan American Silver Corp. has a twelve month low of $13.52 and a twelve month high of $27.45. The business has a 50 day simple moving average of $23.58 and a 200-day simple moving average of $22.44. The company has a current ratio of 2.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $815.10 million during the quarter, compared to the consensus estimate of $805.20 million. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. As a group, equities analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Monday, March 3rd. Pan American Silver’s payout ratio is currently 125.00%.

Pan American Silver 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.