Forsta AP Fonden Raises Stock Holdings in Pan American Silver Corp. (NYSE:PAAS)

Forsta AP Fonden grew its holdings in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 128.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,400 shares of the basic materials company's stock after purchasing an additional 48,000 shares during the period. Forsta AP Fonden's holdings in Pan American Silver were worth $1,785,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PAAS. Foundry Partners LLC increased its stake in shares of Pan American Silver by 11.6% in the 1st quarter. Foundry Partners LLC now owns 247,676 shares of the basic materials company's stock worth $3,735,000 after purchasing an additional 25,835 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in Pan American Silver in the 2nd quarter worth approximately $990,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Pan American Silver during the 2nd quarter valued at approximately $963,000. Cetera Investment Advisers bought a new stake in shares of Pan American Silver during the first quarter valued at approximately $1,565,000. Finally, Stratos Wealth Advisors LLC lifted its holdings in shares of Pan American Silver by 33.4% in the third quarter. Stratos Wealth Advisors LLC now owns 159,268 shares of the basic materials company's stock worth $3,324,000 after buying an additional 39,873 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Scotiabank raised their price objective on Pan American Silver from $23.00 to $26.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 16th. Royal Bank of Canada upped their target price on shares of Pan American Silver from $25.00 to $27.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. CIBC upped their price objective on Pan American Silver from $30.00 to $35.00 and gave the company an "outperformer" rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group increased their price target on Pan American Silver from $21.00 to $23.00 and gave the company a "hold" rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Pan American Silver has an average rating of "Moderate Buy" and a consensus price target of $24.93.

Pan American Silver Stock Down 3.8 %

Shares of PAAS stock traded down $0.93 during mid-day trading on Thursday, hitting $23.41. The stock had a trading volume of 5,226,444 shares, compared to its average volume of 4,071,253. Pan American Silver Corp. has a 12-month low of $12.16 and a 12-month high of $26.05. The firm's 50-day moving average is $21.65 and its two-hundred day moving average is $20.99. The firm has a market capitalization of $8.50 billion, a P/E ratio of -62.38 and a beta of 1.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.92.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its earnings results on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.04). The company had revenue of $686.30 million for the quarter, compared to analysts' expectations of $696.08 million. Pan American Silver had a positive return on equity of 0.66% and a negative net margin of 5.54%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. On average, analysts predict that Pan American Silver Corp. will post 0.66 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, August 19th. Pan American Silver's payout ratio is currently -102.56%.

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.