The Manufacturers Life Insurance Company Sells 242,520 Shares of Pan American Silver Corp. (NYSE:PAAS)

The Manufacturers Life Insurance Company lowered its stake in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 13.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,586,532 shares of the basic materials company’s stock after selling 242,520 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Pan American Silver were worth $33,151,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PAAS. Eastern Bank bought a new position in shares of Pan American Silver in the 3rd quarter worth approximately $28,000. Mark Sheptoff Financial Planning LLC lifted its position in Pan American Silver by 943.4% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock valued at $33,000 after buying an additional 1,500 shares during the period. CWM LLC boosted its holdings in shares of Pan American Silver by 31.6% during the 2nd quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock valued at $42,000 after buying an additional 510 shares in the last quarter. US Bancorp DE grew its position in shares of Pan American Silver by 13.4% in the 3rd quarter. US Bancorp DE now owns 5,600 shares of the basic materials company’s stock worth $117,000 after buying an additional 660 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Pan American Silver by 11.6% in the 2nd quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 774 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Trading Up 1.2 %

NYSE:PAAS opened at $21.99 on Friday. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of -130.17 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average price is $22.54 and its 200-day moving average price is $21.47. Pan American Silver Corp. has a 52 week low of $12.16 and a 52 week high of $26.05.

Pan American Silver Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PAAS shares. Jefferies Financial Group boosted their price objective on shares of Pan American Silver from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Royal Bank of Canada boosted their price target on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, StockNews.com raised Pan American Silver from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.