Virtu Financial LLC Sells 10,600 Shares of Pan American Silver Corp. (NASDAQ:PAAS)

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Virtu Financial LLC trimmed its stake in shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) by 29.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,139 shares of the basic materials company’s stock after selling 10,600 shares during the quarter. Virtu Financial LLC’s holdings in Pan American Silver were worth $394,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PAAS. Usca Ria LLC bought a new position in Pan American Silver in the third quarter valued at about $36,000. Flagship Harbor Advisors LLC boosted its stake in shares of Pan American Silver by 339.8% during the third quarter. Flagship Harbor Advisors LLC now owns 3,395 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 2,623 shares in the last quarter. Cerebellum GP LLC acquired a new stake in shares of Pan American Silver during the third quarter valued at about $126,000. Tower Research Capital LLC TRC boosted its stake in shares of Pan American Silver by 25.5% during the third quarter. Tower Research Capital LLC TRC now owns 10,345 shares of the basic materials company’s stock valued at $162,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Comerica Bank bought a new stake in shares of Pan American Silver during the second quarter worth about $166,000. Institutional investors and hedge funds own 53.92% of the company’s stock.

Shares of NASDAQ:PAAS opened at $20.54 on Wednesday. The firm has a market cap of $4.31 billion, a P/E ratio of 52.67, a P/E/G ratio of 9.34 and a beta of 0.06. Pan American Silver Corp. has a 12-month low of $10.26 and a 12-month high of $20.54. The business has a fifty day simple moving average of $17.54 and a 200 day simple moving average of $15.43. The company has a quick ratio of 1.50, a current ratio of 2.76 and a debt-to-equity ratio of 0.14.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.25. The firm had revenue of $352.19 million for the quarter, compared to analyst estimates of $324.87 million. Pan American Silver had a return on equity of 4.09% and a net margin of 2.51%. The business’s revenue was up 87.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) EPS. As a group, equities research analysts expect that Pan American Silver Corp. will post 0.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.68%. Pan American Silver’s dividend payout ratio (DPR) is 35.90%.

Several research analysts have recently issued reports on the company. TheStreet raised Pan American Silver from a “c” rating to a “b” rating in a research note on Thursday, November 7th. TD Securities lifted their target price on shares of Pan American Silver from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. BidaskClub upgraded shares of Pan American Silver from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada raised shares of Pan American Silver from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $17.00 to $23.00 in a report on Thursday, September 5th. Finally, National Bank Financial upgraded shares of Pan American Silver from a “sector perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Pan American Silver has a consensus rating of “Buy” and an average price target of $21.64.

Pan American Silver Profile

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.

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Institutional Ownership by Quarter for Pan American Silver (NASDAQ:PAAS)

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