Plato Investment Management Ltd Takes Position in Pan American Silver Corp. (NYSE:PAAS)

Plato Investment Management Ltd purchased a new stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 32,802 shares of the basic materials company’s stock, valued at approximately $685,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CWM LLC increased its position in shares of Pan American Silver by 31.6% during the second 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 during the period. US Bancorp DE increased its position in shares of Pan American Silver by 13.4% during the third quarter. US Bancorp DE now owns 5,600 shares of the basic materials company’s stock valued at $117,000 after buying an additional 660 shares during the period. Signaturefd LLC increased its position in shares of Pan American Silver by 11.6% during the second quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock valued at $148,000 after buying an additional 774 shares during the period. Perritt Capital Management Inc. increased its position in shares of Pan American Silver by 76.9% during the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock valued at $35,000 after buying an additional 1,000 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Pan American Silver by 2.9% during the first quarter. SG Americas Securities LLC now owns 47,330 shares of the basic materials company’s stock valued at $714,000 after buying an additional 1,336 shares during the period. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Performance

NYSE:PAAS opened at $21.87 on Friday. The company’s 50 day moving average price is $22.13 and its 200-day moving average price is $21.26. Pan American Silver Corp. has a 52 week low of $12.16 and a 52 week 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 company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, November 18th. Pan American Silver’s payout ratio is -235.28%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Pan American Silver from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Royal Bank of Canada upped their price objective on shares of Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, StockNews.com upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Pan American Silver presently has a consensus rating of “Moderate Buy” and an average price target of $24.93.

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.