Pan American Silver Corp. (NYSE:PAAS) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp grew its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,512,808 shares of the basic materials company's stock after buying an additional 2,328,306 shares during the quarter. Pan American Silver accounts for approximately 0.9% of Van ECK Associates Corp's holdings, making the stock its 20th biggest holding. Van ECK Associates Corp owned 10.89% of Pan American Silver worth $824,632,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Eastern Bank purchased a new position in shares of Pan American Silver in the third quarter valued at $28,000. Mark Sheptoff Financial Planning LLC increased its position in Pan American Silver by 943.4% during the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company's stock worth $33,000 after purchasing an additional 1,500 shares in the last quarter. Perritt Capital Management Inc. increased its position in Pan American Silver by 76.9% during the 1st quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company's stock worth $35,000 after purchasing an additional 1,000 shares in the last quarter. CWM LLC increased its position in Pan American Silver by 31.6% during the 2nd quarter. CWM LLC now owns 2,124 shares of the basic materials company's stock worth $42,000 after purchasing an additional 510 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its position in Pan American Silver by 73.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company's stock worth $78,000 after purchasing an additional 2,200 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on PAAS. Jefferies Financial Group lifted their price objective on Pan American Silver from $21.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. Royal Bank of Canada lifted their price objective 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. CIBC lifted their price objective on Pan American Silver from $30.00 to $35.00 and gave the stock an "outperformer" rating in a research report on Wednesday, July 10th. Finally, Scotiabank lifted their price objective on Pan American Silver from $23.00 to $26.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.93.

Pan American Silver Trading Down 1.8 %

NYSE:PAAS traded down $0.42 during mid-day trading on Friday, reaching $22.99. The company's stock had a trading volume of 2,615,630 shares, compared to its average volume of 3,526,260. The company's fifty day simple moving average is $21.74 and its two-hundred day simple moving average is $21.05. 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 Corp. has a twelve month low of $12.16 and a twelve month high of $26.05. The stock has a market cap of $8.35 billion, a P/E ratio of -58.95 and a beta of 1.33.

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

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Monday, August 19th. Pan American Silver's dividend 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.