Pictet Asset Management SA Decreases Holdings in Pan American Silver Corp. (NASDAQ:PAAS)

Pictet Asset Management SA decreased its position in shares of Pan American Silver Corp. (NASDAQ:PAASGet Rating) (TSE:PAAS) by 29.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,690 shares of the basic materials company’s stock after selling 45,749 shares during the period. Pictet Asset Management SA owned 0.05% of Pan American Silver worth $2,170,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PAAS. Van ECK Associates Corp lifted its position in Pan American Silver by 7.1% during the first quarter. Van ECK Associates Corp now owns 22,401,326 shares of the basic materials company’s stock valued at $611,556,000 after acquiring an additional 1,475,300 shares during the last quarter. Renaissance Technologies LLC lifted its position in Pan American Silver by 75.9% during the first quarter. Renaissance Technologies LLC now owns 2,002,804 shares of the basic materials company’s stock valued at $54,681,000 after acquiring an additional 864,300 shares during the last quarter. Contrarius Investment Management Ltd purchased a new stake in Pan American Silver during the first quarter valued at approximately $17,718,000. Assenagon Asset Management S.A. purchased a new stake in Pan American Silver during the second quarter valued at approximately $8,461,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Pan American Silver during the 1st quarter valued at approximately $9,980,000. Hedge funds and other institutional investors own 45.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PAAS shares. StockNews.com upgraded shares of Pan American Silver from a “sell” rating to a “hold” rating in a research note on Thursday, November 10th. TD Securities cut their price target on shares of Pan American Silver from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, November 11th. TheStreet lowered shares of Pan American Silver from a “b-” rating to a “c-” rating in a research note on Monday, September 12th. Pi Financial restated a “buy” rating on shares of Pan American Silver in a research note on Saturday, July 30th. Finally, National Bank Financial cut their price target on shares of Pan American Silver from C$33.00 to C$31.50 in a research note on Thursday, October 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.10.

Pan American Silver Stock Down 0.1 %

NASDAQ:PAAS opened at $14.82 on Tuesday. The firm has a market capitalization of $3.12 billion, a P/E ratio of -19.76 and a beta of 1.15. Pan American Silver Corp. has a 1-year low of $13.40 and a 1-year high of $30.56. The company’s fifty day moving average price is $15.65 and its 200-day moving average price is $18.31. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 0.96.

Pan American Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Monday, November 21st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.70%. Pan American Silver’s payout ratio is currently -53.33%.

About Pan American Silver

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Pan American Silver Corp., together with its subsidiaries, engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Argentina, and Bolivia. It holds interests in the La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, San Vicente, Joaquin, Cap-Oeste Sur Este, and Navidad mines.

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

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