Legal & General Group Plc Trims Stock Position in Pan American Silver Corp. (NYSE:PAAS)

Legal & General Group Plc reduced its position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 28.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,412,722 shares of the basic materials company's stock after selling 560,939 shares during the quarter. Legal & General Group Plc owned about 0.39% of Pan American Silver worth $29,082,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Pan American Silver during the fourth quarter valued at $197,000. Envestnet Asset Management Inc. increased its position in Pan American Silver by 19.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 32,862 shares of the basic materials company's stock valued at $664,000 after purchasing an additional 5,276 shares during the period. Aviva PLC bought a new stake in shares of Pan American Silver in the 4th quarter valued at about $4,108,000. Trexquant Investment LP boosted its stake in shares of Pan American Silver by 64.7% during the fourth quarter. Trexquant Investment LP now owns 299,321 shares of the basic materials company's stock valued at $6,052,000 after purchasing an additional 117,616 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Pan American Silver by 32.2% during the fourth quarter. Geode Capital Management LLC now owns 2,027,461 shares of the basic materials company's stock valued at $40,776,000 after buying an additional 494,133 shares during the period. 55.43% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms have weighed in on PAAS. Scotiabank upped their target price on Pan American Silver from $28.50 to $32.00 and gave the stock a "sector outperform" rating in a report on Monday. TD Securities downgraded Pan American Silver from a "buy" rating to a "hold" rating and dropped their price objective for the company from $28.00 to $27.00 in a research report on Tuesday, March 11th. Royal Bank of Canada boosted their target price on shares of Pan American Silver from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. StockNews.com downgraded shares of Pan American Silver from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Finally, National Bankshares restated an "outperform" rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $28.50.

Pan American Silver Stock Performance

Shares of PAAS traded up $0.29 during trading hours on Tuesday, reaching $27.47. 3,471,593 shares of the company traded hands, compared to its average volume of 3,713,983. The company has a quick ratio of 0.96, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average price of $24.88 and a 200-day moving average price of $23.16. Pan American Silver Corp. has a 12-month low of $17.86 and a 12-month high of $27.63. The stock has a market capitalization of $9.95 billion, a P/E ratio of 85.84 and a beta of 1.06.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share for the quarter, meeting analysts' consensus estimates of $0.35. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. The business had revenue of $815.10 million for the quarter, compared to analyst estimates of $805.20 million. Equities analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Monday, March 3rd. Pan American Silver's payout ratio is 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.