Assenagon Asset Management S.A. Boosts Stock Holdings in Pan American Silver Corp. $PAAS

Key Points

• Assenagon Asset Management increased its Pan American Silver stake by 2,085.8% in the second quarter, purchasing 244,996 additional shares to hold 256,742 shares worth approximately $11.5 million.
• Other institutional investors also added or initiated positions, with hedge funds and institutions collectively owning 55.43% of PAAS.
• Pan American Silver shares were trading at $51.88, up 1.3%, while analysts maintained an overall “Moderate Buy” rating with an average price target of $70.43.

Assenagon Asset Management S.A. raised its stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 2,085.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 256,742 shares of the basic materials company's stock after purchasing an additional 244,996 shares during the period. Assenagon Asset Management S.A. owned 0.06% of Pan American Silver worth $11,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp increased its position in Pan American Silver by 1,336.1% in the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company's stock worth $28,000 after purchasing an additional 481 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Pan American Silver by 151.8% in the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company's stock worth $25,000 after buying an additional 387 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Pan American Silver in the 4th quarter worth about $34,000. Laurel Wealth Advisors LLC bought a new stake in Pan American Silver during the fourth quarter worth approximately $41,000. Finally, Harbor Investment Advisory LLC bought a new stake in Pan American Silver during the first quarter worth approximately $44,000. Hedge funds and other institutional investors own 55.43% of the company's stock.

Pan American Silver Trading Up 1.3%

Shares of NYSE PAAS opened at $51.88 on Tuesday. Pan American Silver Corp. has a twelve month low of $30.59 and a twelve month high of $69.99. The firm has a market cap of $21.64 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 4.43 and a beta of 0.73. The business has a fifty day simple moving average of $46.14 and a two-hundred day simple moving average of $53.45. The company has a quick ratio of 2.11, a current ratio of 2.84 and a debt-to-equity ratio of 0.11.

Analyst Ratings Changes

PAAS has been the subject of several analyst reports. Weiss Ratings lowered Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Wall Street Zen downgraded shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 12th. Royal Bank Of Canada restated an "outperform" rating and issued a $75.00 target price on shares of Pan American Silver in a report on Tuesday, April 28th. Bank of America reduced their price objective on shares of Pan American Silver from $77.00 to $69.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Scotiabank reissued an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $70.43.

Pan American Silver Company Profile

Pan American Silver Corp. NYSE: PAAS is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.

Want to see what other hedge funds are holding PAAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source