Connor Clark & Lunn Investment Management Ltd. Has $9.41 Million Stock Holdings in Pan American Silver Corp. (NYSE:PAAS)

Connor Clark & Lunn Investment Management Ltd. decreased its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 92.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 450,770 shares of the basic materials company’s stock after selling 5,881,535 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pan American Silver were worth $9,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAAS. CWM LLC boosted its stake in shares of Pan American Silver by 31.6% in the 2nd quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 510 shares during the last quarter. US Bancorp DE grew its holdings in Pan American Silver by 13.4% during the 3rd quarter. US Bancorp DE now owns 5,600 shares of the basic materials company’s stock worth $117,000 after acquiring an additional 660 shares during the period. Signaturefd LLC raised its position in shares of Pan American Silver by 11.6% during the 2nd quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 774 shares during the last quarter. Perritt Capital Management Inc. lifted its stake in shares of Pan American Silver by 76.9% in the 1st quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the period. Finally, Eastern Bank bought a new position in shares of Pan American Silver in the 3rd quarter worth $28,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on PAAS. StockNews.com lowered Pan American Silver from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada increased their price target on shares of Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group upped their target price on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Pan American Silver has a consensus rating of “Moderate Buy” and an average target price of $25.42.

Pan American Silver Trading Up 1.8 %

PAAS opened at $22.82 on Friday. The stock has a market capitalization of $8.28 billion, a P/E ratio of -134.21 and a beta of 1.33. The firm’s fifty day simple moving average is $22.45 and its 200 day simple moving average is $21.39. Pan American Silver Corp. has a 12 month low of $12.16 and a 12 month high of $26.05. The company has a current ratio of 2.06, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16.

Pan American Silver Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.75%. Pan American Silver’s dividend payout ratio (DPR) is presently -235.29%.

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.