Pan American Silver Corp. $PAAS Position Lowered by Cadence Wealth Management LLC

Cadence Wealth Management LLC reduced its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 30.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 30,232 shares of the basic materials company’s stock after selling 13,527 shares during the period. Pan American Silver accounts for approximately 0.6% of Cadence Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Cadence Wealth Management LLC’s holdings in Pan American Silver were worth $1,171,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. City State Bank lifted its holdings in Pan American Silver by 74.4% during the 3rd quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock worth $40,000 after buying an additional 435 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Pan American Silver by 3,111.4% in the 3rd quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Pan American Silver by 53.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 594 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in Pan American Silver during the second quarter worth $51,000. Finally, Wolverine Asset Management LLC bought a new position in Pan American Silver during the third quarter worth $58,000. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Stock Performance

Shares of PAAS opened at $57.97 on Friday. The firm has a fifty day moving average of $54.90 and a 200-day moving average of $42.64. The company has a market cap of $24.46 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 0.55 and a beta of 0.66. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.55 and a current ratio of 2.31. Pan American Silver Corp. has a 1 year low of $20.55 and a 1 year high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $854.60 million during the quarter, compared to the consensus estimate of $867.76 million. Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. As a group, equities analysts anticipate that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on PAAS. Canadian Imperial Bank of Commerce set a $88.00 target price on shares of Pan American Silver and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Wall Street Zen raised shares of Pan American Silver from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. Zacks Research lowered shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Finally, Scotiabank raised their target price on shares of Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

Pan American Silver Company Profile

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.