Van ECK Associates Corp Sells 6,814,036 Shares of Pan American Silver Corp. (NYSE:PAAS)

Van ECK Associates Corp reduced its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,698,772 shares of the basic materials company's stock after selling 6,814,036 shares during the quarter. Pan American Silver makes up about 0.8% of Van ECK Associates Corp's investment portfolio, making the stock its 25th largest holding. Van ECK Associates Corp owned approximately 9.01% of Pan American Silver worth $661,168,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PAAS. FMR LLC boosted its position in Pan American Silver by 1,834.8% in the 3rd quarter. FMR LLC now owns 1,344,991 shares of the basic materials company's stock valued at $28,084,000 after buying an additional 1,275,475 shares during the period. Marlin Sams Capital Management LLC increased its stake in Pan American Silver by 89.2% during the 3rd quarter. Marlin Sams Capital Management LLC now owns 700,000 shares of the basic materials company's stock valued at $14,609,000 after purchasing an additional 330,000 shares in the last quarter. National Bank of Canada FI increased its stake in Pan American Silver by 30.1% during the 3rd quarter. National Bank of Canada FI now owns 1,143,061 shares of the basic materials company's stock valued at $23,857,000 after purchasing an additional 264,772 shares in the last quarter. Triasima Portfolio Management inc. acquired a new position in Pan American Silver during the 4th quarter valued at approximately $2,911,000. Finally, Geode Capital Management LLC increased its stake in shares of Pan American Silver by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,533,328 shares of the basic materials company's stock worth $31,713,000 after acquiring an additional 108,039 shares during the period. 55.43% of the stock is currently owned by institutional investors.

Pan American Silver Stock Performance

Shares of PAAS traded down $0.65 during trading hours on Friday, reaching $24.43. 3,909,858 shares of the company's stock traded hands, compared to its average volume of 2,849,540. The business's fifty day simple moving average is $22.19 and its two-hundred day simple moving average is $21.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.96. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of -143.67 and a beta of 1.28. Pan American Silver Corp. has a twelve month low of $12.19 and a twelve month high of $26.05.

Wall Street Analyst Weigh In

PAAS has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target 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 note on Sunday, December 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.92.

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.