Alliancebernstein L.P. Sells 1,326 Shares of Pan American Silver Corp. (NYSE:PAAS)

Alliancebernstein L.P. decreased its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,339 shares of the basic materials company’s stock after selling 1,326 shares during the quarter. Alliancebernstein L.P.’s holdings in Pan American Silver were worth $553,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PAAS. Norges Bank purchased a new position in shares of Pan American Silver in the 4th quarter worth about $91,916,000. Jupiter Asset Management Ltd. bought a new position in Pan American Silver in the fourth quarter worth approximately $24,083,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Pan American Silver by 135.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,062,315 shares of the basic materials company’s stock valued at $21,463,000 after purchasing an additional 611,545 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Pan American Silver during the 4th quarter valued at about $6,834,000. Finally, Hillsdale Investment Management Inc. increased its stake in shares of Pan American Silver by 204.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 412,800 shares of the basic materials company’s stock worth $8,342,000 after purchasing an additional 277,300 shares in the last quarter. Institutional investors own 55.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PAAS shares. StockNews.com downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Royal Bank of Canada raised their target price 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. BMO Capital Markets started coverage on Pan American Silver in a research report on Wednesday. They issued a “market perform” rating on the stock. National Bankshares reaffirmed an “outperform” rating on shares of Pan American Silver in a research report on Wednesday, April 2nd. Finally, TD Securities downgraded Pan American Silver from a “buy” rating to a “hold” rating and decreased their price objective for the company from $28.00 to $27.00 in a report on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.50.

Pan American Silver Price Performance

NYSE PAAS opened at $27.20 on Friday. Pan American Silver Corp. has a 12-month low of $17.86 and a 12-month high of $28.60. The firm’s fifty day simple moving average is $25.05 and its two-hundred day simple moving average is $23.29. The company has a current ratio of 2.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $9.85 billion, a P/E ratio of 85.00 and a beta of 1.06.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The business had revenue of $815.10 million for the quarter, compared to analyst estimates of $805.20 million. Analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, March 3rd. Pan American Silver’s payout ratio is 125.00%.

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.