Strategic Financial Concepts LLC Takes $735,000 Position in Pan American Silver Corp. (NYSE:PAAS)

Strategic Financial Concepts LLC acquired a new position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 36,340 shares of the basic materials company’s stock, valued at approximately $735,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ninety One SA PTY Ltd increased its stake in Pan American Silver by 14.0% during the 4th quarter. Ninety One SA PTY Ltd now owns 29,925 shares of the basic materials company’s stock worth $605,000 after buying an additional 3,669 shares during the period. DAVENPORT & Co LLC grew its stake in shares of Pan American Silver by 12.9% in the fourth quarter. DAVENPORT & Co LLC now owns 69,384 shares of the basic materials company’s stock worth $1,403,000 after acquiring an additional 7,911 shares in the last quarter. True North Advisors LLC purchased a new stake in shares of Pan American Silver during the fourth quarter worth $323,000. Janney Montgomery Scott LLC raised its stake in shares of Pan American Silver by 23.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 46,824 shares of the basic materials company’s stock valued at $947,000 after acquiring an additional 8,862 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new position in Pan American Silver in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Trading Down 3.4 %

NYSE:PAAS opened at $24.32 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.06. Pan American Silver Corp. has a 1 year low of $12.16 and a 1 year high of $26.05. The stock has a market cap of $8.83 billion, a P/E ratio of -143.03 and a beta of 1.28. The stock has a 50-day simple moving average of $22.04 and a 200-day simple moving average of $21.76.

Wall Street Analysts Forecast Growth

PAAS has been the topic of several recent research reports. Royal Bank of Canada upped their price target on Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday. StockNews.com lowered 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 issued a buy rating to the company. According to MarketBeat.com, Pan American Silver currently has a consensus rating of “Moderate Buy” and an average 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.