Wells Fargo & Company MN Has $7.48 Million Stake in Pan American Silver Corp. (NASDAQ:PAAS)

Wells Fargo & Company MN lowered its stake in Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) by 10.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 444,654 shares of the basic materials company’s stock after selling 53,375 shares during the quarter. Wells Fargo & Company MN owned about 0.29% of Pan American Silver Corp. worth $7,480,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Pan American Silver Corp. in the 1st quarter valued at $164,000. Sigma Planning Corp bought a new position in Pan American Silver Corp. during the 2nd quarter worth about $181,000. Cambridge Investment Research Advisors Inc. bought a new position in Pan American Silver Corp. during the 2nd quarter worth about $189,000. Freestone Capital Holdings LLC bought a new position in Pan American Silver Corp. during the 2nd quarter worth about $271,000. Finally, Legal & General Group Plc boosted its stake in shares of Pan American Silver Corp. by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 18,253 shares of the basic materials company’s stock worth $307,000 after buying an additional 990 shares during the last quarter. 53.88% of the stock is currently owned by institutional investors.

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Shares of Pan American Silver Corp. (NASDAQ PAAS) opened at 16.98 on Tuesday. The stock has a market capitalization of $2.60 billion, a PE ratio of 21.71 and a beta of 0.15. The stock has a 50 day moving average of $17.80 and a 200 day moving average of $17.27. Pan American Silver Corp. has a 52-week low of $13.80 and a 52-week high of $21.29.

Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.06. The firm had revenue of $201.30 million for the quarter, compared to analysts’ expectations of $184.96 million. Pan American Silver Corp. had a net margin of 14.62% and a return on equity of 6.16%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. Analysts forecast that Pan American Silver Corp. will post $0.55 earnings per share for the current year.

A number of equities analysts have recently commented on PAAS shares. BMO Capital Markets restated a “hold” rating and set a $17.50 price objective on shares of Pan American Silver Corp. in a research note on Thursday, June 29th. Zacks Investment Research downgraded shares of Pan American Silver Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. TheStreet downgraded shares of Pan American Silver Corp. from a “b-” rating to a “c+” rating in a research note on Friday, July 28th. BidaskClub downgraded shares of Pan American Silver Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Royal Bank Of Canada set a $22.00 price objective on shares of Pan American Silver Corp. and gave the stock a “buy” rating in a research report on Thursday, August 10th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.56.

About Pan American Silver Corp.

Pan American Silver Corp. is a silver production company. The Company is principally engaged in the operation and development of, and exploration for, silver producing properties. The Company’s segments include Peru, Mexico, Argentina and Bolivia. The Company also produces and sells gold, zinc, lead and copper.

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

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