Van ECK Associates Corp Sells 6,814,036 Shares of Pan American Silver Corp. (NYSE:PAAS)

Van ECK Associates Corp trimmed its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 17.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,698,772 shares of the basic materials company’s stock after selling 6,814,036 shares during the period. Pan American Silver comprises approximately 0.8% of Van ECK Associates Corp’s portfolio, making the stock its 25th largest position. Van ECK Associates Corp owned about 9.01% of Pan American Silver worth $661,168,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ingalls & Snyder LLC increased its stake in shares of Pan American Silver by 3.4% in the third quarter. Ingalls & Snyder LLC now owns 1,637,988 shares of the basic materials company’s stock worth $34,185,000 after buying an additional 53,500 shares during the period. Geode Capital Management LLC increased its position in shares of Pan American Silver by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,533,328 shares of the basic materials company’s stock valued at $31,713,000 after acquiring an additional 108,039 shares during the period. FMR LLC raised its stake in shares of Pan American Silver by 1,834.8% during the third quarter. FMR LLC now owns 1,344,991 shares of the basic materials company’s stock valued at $28,084,000 after acquiring an additional 1,275,475 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Pan American Silver by 30.1% during the third quarter. National Bank of Canada FI now owns 1,143,061 shares of the basic materials company’s stock worth $23,857,000 after purchasing an additional 264,772 shares during the period. Finally, Swiss National Bank grew its stake in shares of Pan American Silver by 0.3% in the third quarter. Swiss National Bank now owns 1,097,619 shares of the basic materials company’s stock worth $22,955,000 after purchasing an additional 3,400 shares during the last quarter. 55.43% of the stock is owned by institutional investors.

Pan American Silver Trading Up 3.8 %

PAAS stock opened at $25.23 on Thursday. The company has a current ratio of 2.06, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average price is $22.09 and its two-hundred day moving average price is $21.79. Pan American Silver Corp. has a fifty-two week low of $12.16 and a fifty-two week high of $26.05.

Wall Street Analyst Weigh In

A number of research firms have commented on PAAS. Royal Bank of Canada upped their price target on Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday. StockNews.com downgraded Pan American Silver from a “buy” rating to a “hold” rating in a report on Sunday, December 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $25.92.

About Pan American Silver

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.