Pan American Silver Corp. $PAAS Stake Lowered by Shell Asset Management Co.

Shell Asset Management Co. trimmed its stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 76.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,329 shares of the basic materials company’s stock after selling 27,427 shares during the quarter. Shell Asset Management Co.’s holdings in Pan American Silver were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Pan American Silver by 15.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,425,601 shares of the basic materials company’s stock worth $296,087,000 after buying an additional 1,396,360 shares during the last quarter. Invesco Ltd. grew its position in shares of Pan American Silver by 49.5% during the second quarter. Invesco Ltd. now owns 9,016,262 shares of the basic materials company’s stock worth $256,062,000 after acquiring an additional 2,986,434 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Pan American Silver by 5,674.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,141,108 shares of the basic materials company’s stock worth $174,406,000 after acquiring an additional 6,034,755 shares during the period. Norges Bank acquired a new stake in shares of Pan American Silver in the 2nd quarter worth about $155,281,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Pan American Silver by 6.0% during the second quarter. Ameriprise Financial Inc. now owns 4,038,617 shares of the basic materials company’s stock valued at $114,747,000 after buying an additional 226,933 shares during the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Trading Down 3.4%

NYSE:PAAS opened at $55.98 on Wednesday. The company’s 50 day moving average is $55.34 and its 200-day moving average is $43.27. The company has a quick ratio of 1.55, a current ratio of 2.31 and a debt-to-equity ratio of 0.12. Pan American Silver Corp. has a 12 month low of $20.55 and a 12 month high of $69.99. The firm has a market cap of $23.62 billion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 0.58 and a beta of 0.66.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PAAS shares. Jefferies Financial Group cut their price objective on shares of Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce set a $88.00 price target on Pan American Silver and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Scotiabank lifted their price objective on shares of Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a research note on Monday, December 29th. Finally, Wall Street Zen raised Pan American Silver from a “hold” rating to a “buy” rating in a research note on Saturday. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.60.

About Pan American Silver

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.