Renaissance Technologies LLC Acquires 784,906 Shares of Pan American Silver Corp. (NYSE:PAAS)

Renaissance Technologies LLC raised its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 110.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,498,246 shares of the basic materials company's stock after buying an additional 784,906 shares during the period. Renaissance Technologies LLC owned approximately 0.41% of Pan American Silver worth $30,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Pan American Silver by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,008,185 shares of the basic materials company's stock valued at $283,385,000 after buying an additional 221,561 shares during the last quarter. FIL Ltd lifted its holdings in Pan American Silver by 4.6% in the fourth quarter. FIL Ltd now owns 13,388,644 shares of the basic materials company's stock worth $270,848,000 after purchasing an additional 584,017 shares during the period. Norges Bank bought a new position in shares of Pan American Silver in the fourth quarter valued at approximately $91,916,000. Geode Capital Management LLC raised its holdings in Pan American Silver by 32.2% during 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 purchasing an additional 494,133 shares in the last quarter. Finally, Ingalls & Snyder LLC lifted its position in Pan American Silver by 5.4% in the fourth quarter. Ingalls & Snyder LLC now owns 1,726,999 shares of the basic materials company's stock worth $34,920,000 after purchasing an additional 89,011 shares during the period. 55.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Royal Bank of Canada boosted their price objective on Pan American Silver from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. BMO Capital Markets began coverage on shares of Pan American Silver in a research report on Wednesday. They issued a "market perform" rating on the stock. StockNews.com lowered shares of Pan American Silver from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Scotiabank reiterated a "sector perform" rating on shares of Pan American Silver in a report on Monday. Finally, TD Securities lowered shares of Pan American Silver from a "buy" rating to a "hold" rating and decreased their price target for the stock from $28.00 to $27.00 in a research report on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $28.50.

Pan American Silver Stock Down 2.1 %

Shares of PAAS traded down $0.58 during mid-day trading on Thursday, reaching $27.44. The company's stock had a trading volume of 1,649,396 shares, compared to its average volume of 3,700,206. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 85.58 and a beta of 1.06. The business has a fifty day moving average of $24.95 and a 200 day moving average of $23.19. The company has a quick ratio of 0.96, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. Pan American Silver Corp. has a 1 year low of $17.86 and a 1 year 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 earnings per share for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $815.10 million for the quarter, compared to analysts' expectations of $805.20 million. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. As a group, 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 business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Monday, March 3rd. Pan American Silver's dividend payout ratio is currently 125.00%.

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.