Ingalls & Snyder LLC Raises Stock Position in Pan American Silver Corp. (NYSE:PAAS)

Ingalls & Snyder LLC increased its stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,637,988 shares of the basic materials company’s stock after acquiring an additional 53,500 shares during the quarter. Pan American Silver makes up about 1.3% of Ingalls & Snyder LLC’s portfolio, making the stock its 12th biggest holding. Ingalls & Snyder LLC’s holdings in Pan American Silver were worth $34,185,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PAAS. Janus Henderson Group PLC boosted its stake in Pan American Silver by 121.6% during the 1st quarter. Janus Henderson Group PLC now owns 45,279 shares of the basic materials company’s stock worth $682,000 after purchasing an additional 24,847 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Pan American Silver during the 1st quarter worth $1,565,000. CWM LLC boosted its stake in Pan American Silver by 31.6% during the 2nd quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 510 shares during the last quarter. Raymond James & Associates boosted its stake in Pan American Silver by 2.2% during the 2nd quarter. Raymond James & Associates now owns 225,757 shares of the basic materials company’s stock worth $4,488,000 after purchasing an additional 4,811 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new position in shares of Pan American Silver during the 2nd quarter valued at about $445,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Price Performance

NYSE PAAS traded up $0.59 during trading hours on Tuesday, reaching $21.93. The company had a trading volume of 641,943 shares, compared to its average volume of 4,041,466. The stock has a 50-day moving average of $22.55 and a 200 day moving average of $21.50. Pan American Silver Corp. has a 1-year low of $12.16 and a 1-year 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.40 dividend on an annualized basis and a yield of 1.82%. Pan American Silver’s payout ratio is currently -235.28%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PAAS. StockNews.com cut shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday. Jefferies Financial Group boosted their price target on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada boosted 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Pan American Silver currently has a consensus rating of “Moderate Buy” and an average price target of $25.42.

Pan American Silver Company 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.