Ninety One UK Ltd Decreases Holdings in Pan American Silver Corp. (NYSE:PAAS)

Ninety One UK Ltd trimmed its stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 32.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,078,084 shares of the basic materials company's stock after selling 989,630 shares during the period. Ninety One UK Ltd owned approximately 0.57% of Pan American Silver worth $42,019,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. US Bancorp DE grew its stake in shares of Pan American Silver by 13.4% in the third quarter. US Bancorp DE now owns 5,600 shares of the basic materials company's stock worth $117,000 after purchasing an additional 660 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Pan American Silver by 3.7% in the third quarter. Advisors Asset Management Inc. now owns 26,751 shares of the basic materials company's stock valued at $558,000 after acquiring an additional 951 shares in the last quarter. Eastern Bank bought a new stake in Pan American Silver in the third quarter valued at $28,000. Laurel Wealth Advisors LLC purchased a new position in Pan American Silver during the 4th quarter valued at $30,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Pan American Silver in the 3rd quarter worth about $32,000. Institutional investors own 55.43% of the company's stock.

Pan American Silver Stock Down 0.9 %

Shares of NYSE PAAS traded down $0.24 during midday trading on Friday, hitting $24.57. The stock had a trading volume of 2,653,289 shares, compared to its average volume of 2,849,540. Pan American Silver Corp. has a 52 week low of $12.16 and a 52 week high of $26.05. The business's 50 day moving average is $21.93 and its 200-day moving average is $21.73. The company has a quick ratio of 0.96, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The company has a market cap of $8.92 billion, a P/E ratio of -144.49 and a beta of 1.28.

Analysts Set New Price Targets

Separately, StockNews.com cut Pan American Silver from a "buy" rating to a "hold" rating in a research note on Sunday, December 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $25.42.

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.