Pan American Silver Corp. (NYSE:PAAS) Stake Lowered by Legal & General Group Plc

Legal & General Group Plc lessened its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 28.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,412,722 shares of the basic materials company's stock after selling 560,939 shares during the period. Legal & General Group Plc owned about 0.39% of Pan American Silver worth $29,082,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Pan American Silver during the 4th quarter worth $91,916,000. Jupiter Asset Management Ltd. purchased a new stake in Pan American Silver in the 4th quarter valued at about $24,083,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Pan American Silver by 135.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,062,315 shares of the basic materials company's stock worth $21,463,000 after acquiring an additional 611,545 shares during the period. Geode Capital Management LLC boosted its position in shares of Pan American Silver by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 2,027,461 shares of the basic materials company's stock worth $40,776,000 after acquiring an additional 494,133 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Pan American Silver during the fourth quarter worth approximately $6,834,000. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Stock Down 2.9 %

PAAS stock traded down $0.82 during mid-day trading on Friday, hitting $27.20. 3,654,412 shares of the company were exchanged, compared to its average volume of 3,702,040. The company has a market capitalization of $9.85 billion, a PE ratio of 85.00 and a beta of 1.06. The firm has a fifty day simple moving average of $24.99 and a 200 day simple moving average of $23.24. The company has a current ratio of 2.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Pan American Silver Corp. has a twelve month low of $17.86 and a twelve month high of $28.60.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.35 EPS for the quarter, hitting analysts' consensus estimates of $0.35. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. The company had revenue of $815.10 million for the quarter, compared to the consensus estimate of $805.20 million. On average, research analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.40 annualized dividend and a yield of 1.47%. Pan American Silver's payout ratio is 125.00%.

Analyst Ratings Changes

PAAS has been the subject of several research reports. Scotiabank reissued a "sector perform" rating on shares of Pan American Silver in a research note on Monday. BMO Capital Markets started coverage on Pan American Silver in a report on Wednesday. They issued a "market perform" rating on the stock. Royal Bank of Canada boosted their target price on Pan American Silver from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. TD Securities lowered shares of Pan American Silver from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $28.00 to $27.00 in a research report on Tuesday, March 11th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Pan American Silver in a research report on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $28.50.

Pan American Silver Profile

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.