Raymond James & Associates Has $1.79 Million Holdings in Pan American Silver Corp. (PAAS)

Raymond James & Associates lessened its stake in shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) by 9.9% during the 2nd quarter, Holdings Channel reports. The firm owned 100,203 shares of the basic materials company’s stock after selling 11,013 shares during the quarter. Raymond James & Associates’ holdings in Pan American Silver were worth $1,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hussman Strategic Advisors Inc. grew its holdings in Pan American Silver by 1,000.0% during the second quarter. Hussman Strategic Advisors Inc. now owns 55,000 shares of the basic materials company’s stock valued at $984,000 after purchasing an additional 50,000 shares during the last quarter. Tocqueville Asset Management L.P. boosted its position in shares of Pan American Silver by 0.9% in the second quarter. Tocqueville Asset Management L.P. now owns 4,724,126 shares of the basic materials company’s stock valued at $84,562,000 after acquiring an additional 40,000 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Pan American Silver by 25.2% in the second quarter. Russell Investments Group Ltd. now owns 152,687 shares of the basic materials company’s stock valued at $2,699,000 after acquiring an additional 30,748 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of Pan American Silver in the second quarter valued at approximately $297,000. Finally, Van ECK Associates Corp boosted its position in shares of Pan American Silver by 6.7% in the second quarter. Van ECK Associates Corp now owns 19,339,618 shares of the basic materials company’s stock valued at $346,179,000 after acquiring an additional 1,221,920 shares during the period. Institutional investors own 49.25% of the company’s stock.

Several research firms have recently weighed in on PAAS. Scotiabank cut Pan American Silver from an “outperform” rating to a “sector perform” rating and set a $18.00 price objective for the company. in a research report on Monday, July 16th. BidaskClub cut Pan American Silver from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 31st. ValuEngine cut Pan American Silver from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. TD Securities set a $23.00 price objective on Pan American Silver and gave the company a “buy” rating in a research report on Thursday, August 9th. Finally, Deutsche Bank cut Pan American Silver from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Pan American Silver has a consensus rating of “Buy” and an average price target of $20.33.

PAAS opened at $15.22 on Friday. Pan American Silver Corp. has a 1-year low of $13.97 and a 1-year high of $18.75. The company has a market capitalization of $2.26 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 5.83 and a beta of 0.19.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, August 8th. The basic materials company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.16 by $0.07. The firm had revenue of $216.46 million during the quarter, compared to analysts’ expectations of $213.63 million. Pan American Silver had a return on equity of 7.06% and a net margin of 17.95%. On average, sell-side analysts anticipate that Pan American Silver Corp. will post 0.63 EPS for the current fiscal year.

About Pan American Silver

Pan American Silver Corp., together with its subsidiaries, engages in exploration, extraction, processing, refining, and reclamation of silver mines. The company owns and operates silver mines located in Peru, Mexico, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper. The company holds interests in the La Colorada, Dolores, Alamo Dorado, Huaron, Morococha, Manantial Espejo, and San Vicente mines.

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Institutional Ownership by Quarter for Pan American Silver (NASDAQ:PAAS)

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