Van ECK Associates Corp Cuts Position in Pan American Silver Corp. (NYSE:PAAS)

Van ECK Associates Corp decreased its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 17.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 32,698,772 shares of the basic materials company’s stock after selling 6,814,036 shares during the period. Pan American Silver comprises 0.8% of Van ECK Associates Corp’s portfolio, making the stock its 25th largest holding. Van ECK Associates Corp owned 0.09% of Pan American Silver worth $661,168,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Pan American Silver in the 4th quarter worth about $27,000. Eastern Bank bought a new stake in Pan American Silver during the 3rd quarter valued at about $28,000. Laurel Wealth Advisors LLC purchased a new position in Pan American Silver in the fourth quarter worth about $30,000. Wilmington Savings Fund Society FSB bought a new position in shares of Pan American Silver in the third quarter worth approximately $32,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Pan American Silver during the fourth quarter valued at approximately $32,000. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Pan American Silver Stock Performance

Shares of PAAS stock opened at $25.23 on Thursday. The company’s fifty day simple moving average is $22.09 and its two-hundred day simple moving average is $21.79. 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 52 week low of $12.16 and a 52 week high of $26.05.

Analyst Ratings Changes

PAAS has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a report on Sunday, December 1st. Royal Bank of Canada boosted their price target on Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.92.

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.