Verition Fund Management LLC Purchases Shares of 64,187 Pan American Silver Corp. (NYSE:PAAS)

Verition Fund Management LLC acquired a new stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,187 shares of the basic materials company's stock, valued at approximately $1,340,000.

Other institutional investors have also modified their holdings of the company. Eastern Bank purchased a new position in shares of Pan American Silver during the 3rd quarter worth about $28,000. Mark Sheptoff Financial Planning LLC grew its stake in shares of Pan American Silver by 943.4% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company's stock valued at $33,000 after buying an additional 1,500 shares during the last quarter. CWM LLC raised its holdings in shares of Pan American Silver by 31.6% in the second quarter. CWM LLC now owns 2,124 shares of the basic materials company's stock worth $42,000 after buying an additional 510 shares during the period. US Bancorp DE lifted its stake in shares of Pan American Silver by 13.4% during the 3rd quarter. US Bancorp DE now owns 5,600 shares of the basic materials company's stock worth $117,000 after acquiring an additional 660 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Pan American Silver by 11.6% during the 2nd quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company's stock valued at $148,000 after acquiring an additional 774 shares during the period. 55.43% of the stock is owned by institutional investors.

Pan American Silver Stock Down 2.6 %

Shares of PAAS traded down $0.59 during mid-day trading on Friday, hitting $22.17. The company's stock had a trading volume of 2,658,899 shares, compared to its average volume of 3,578,666. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of -130.41 and a beta of 1.28. The company's 50-day moving average is $22.60 and its 200-day moving average is $21.52. 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.

Pan American Silver Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.80%. Pan American Silver's dividend payout ratio is presently -235.29%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PAAS shares. Royal Bank of Canada lifted their target price on Pan American Silver from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. Jefferies Financial Group upped their target price on shares of Pan American Silver from $21.00 to $23.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. Finally, StockNews.com lowered Pan American Silver from a "buy" rating to a "hold" rating in a report on Sunday, December 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.