Raymond James Financial Services Advisors Inc. Purchases 23,271 Shares of Pan American Silver Corp. (NASDAQ:PAAS)

Raymond James Financial Services Advisors Inc. lifted its stake in Pan American Silver Corp. (NASDAQ:PAAS – Get Rating) (TSE:PAAS) by 25.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 114,930 shares of the basic materials company’s stock after buying an additional 23,271 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Pan American Silver were worth $1,825,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Captrust Financial Advisors boosted its stake in Pan American Silver by 1,220.0% during the second quarter. Captrust Financial Advisors now owns 1,320 shares of the basic materials company’s stock worth $26,000 after buying an additional 1,220 shares in the last quarter. Forsta AP Fonden acquired a new stake in shares of Pan American Silver in the 2nd quarter valued at $41,000. FMR LLC raised its holdings in shares of Pan American Silver by 123.1% in the second quarter. FMR LLC now owns 2,441 shares of the basic materials company’s stock valued at $48,000 after buying an additional 1,347 shares during the last quarter. US Bancorp DE raised its holdings in shares of Pan American Silver by 218.0% in the second quarter. US Bancorp DE now owns 2,477 shares of the basic materials company’s stock valued at $48,000 after buying an additional 1,698 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Pan American Silver in the first quarter valued at about $202,000. Institutional investors and hedge funds own 44.11% of the company’s stock.

Pan American Silver Stock Performance

Shares of PAAS stock opened at $18.39 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 0.96. The stock has a market cap of $3.87 billion, a PE ratio of -24.52 and a beta of 1.12. The stock has a 50-day moving average of $16.48 and a 200-day moving average of $16.80. Pan American Silver Corp. has a one year low of $13.40 and a one year high of $30.56.

Pan American Silver (NASDAQ:PAAS – Get Rating) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, November 9th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.05. Pan American Silver had a positive return on equity of 2.47% and a negative net margin of 10.01%. The business had revenue of $338.89 million during the quarter, compared to analyst estimates of $351.58 million. As a group, sell-side analysts expect that Pan American Silver Corp. will post 0.06 earnings per share for the current year.

Pan American Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Investors of record on Monday, November 21st were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 18th. This represents a $0.40 annualized dividend and a dividend yield of 2.18%. Pan American Silver’s dividend payout ratio is presently -53.33%.

Analyst Ratings Changes

PAAS has been the subject of a number of research analyst reports. TD Securities cut their price target on Pan American Silver from $22.00 to $20.00 and set a “buy” rating for the company in a report on Friday, November 11th. Royal Bank of Canada raised Pan American Silver from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $19.00 to $22.00 in a report on Wednesday, January 11th. StockNews.com cut Pan American Silver from a “hold” rating to a “sell” rating in a report on Monday, December 5th. Finally, National Bank Financial dropped their price objective on Pan American Silver from C$33.00 to C$31.50 in a report on Thursday, October 13th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pan American Silver presently has a consensus rating of “Moderate Buy” and an average target price of $27.08.

About Pan American Silver

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Pan American Silver Corp. engages in the exploration, development, extraction, processing, refining, and reclamation of mineral properties. The firm operates through the following segments: Silver, Gold, and Other. The company was founded by Ross J. Beaty and John J. Wright on March 17, 1979 and is headquartered in Vancouver, Canada.