Pan American Silver Corp. (NYSE:PAAS) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 92.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 450,770 shares of the basic materials company’s stock after selling 5,881,535 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Pan American Silver worth $9,411,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PAAS. Eastern Bank bought a new position in Pan American Silver during the third quarter worth $28,000. Mark Sheptoff Financial Planning LLC lifted its holdings in Pan American Silver by 943.4% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,500 shares during the period. Perritt Capital Management Inc. boosted its holdings in shares of Pan American Silver by 76.9% in the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 1,000 shares in the last quarter. CWM LLC increased its position 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 purchasing an additional 510 shares during the period. Finally, UniSuper Management Pty Ltd raised its position in Pan American Silver by 73.3% in the first quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 2,200 shares in the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

Pan American Silver Stock Performance

NYSE:PAAS opened at $22.82 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.06. The firm’s 50-day moving average is $22.45 and its 200-day moving average is $21.39. Pan American Silver Corp. has a 52-week low of $12.16 and a 52-week high of $26.05. The company has a market cap of $8.28 billion, a price-to-earnings ratio of -134.21 and a beta of 1.33.

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, November 18th. Pan American Silver’s dividend payout ratio is presently -235.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PAAS. Jefferies Financial Group lifted their target price on 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 boosted their price target on Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, StockNews.com downgraded Pan American Silver from a “buy” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Pan American Silver presently has an average rating of “Moderate Buy” and an average price target of $25.42.

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.