Ingalls & Snyder LLC Boosts Position in Pan American Silver Corp. (NYSE:PAAS)

Ingalls & Snyder LLC raised its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 3.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,637,988 shares of the basic materials company’s stock after purchasing an additional 53,500 shares during the period. Pan American Silver accounts for about 1.3% of Ingalls & Snyder LLC’s portfolio, making the stock its 12th largest position. Ingalls & Snyder LLC owned 0.45% of Pan American Silver worth $34,185,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Eastern Bank purchased a new position in Pan American Silver during the 3rd quarter valued at about $28,000. Mark Sheptoff Financial Planning LLC increased its position in Pan American Silver by 943.4% during the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 1,500 shares during the period. CWM LLC boosted its holdings in shares of Pan American Silver by 31.6% in 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 boosted its holdings 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 valued at $117,000 after buying an additional 660 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Pan American Silver in the 3rd quarter valued at about $146,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Price Performance

PAAS stock traded up $0.59 during trading on Tuesday, reaching $21.93. The company had a trading volume of 641,943 shares, compared to its average volume of 4,041,466. The firm has a 50-day simple moving average of $22.55 and a 200-day simple moving average of $21.50. The company has a quick ratio of 0.96, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. Pan American Silver Corp. has a twelve month low of $12.16 and a twelve month high of $26.05.

Pan American Silver Announces Dividend

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

Wall Street Analyst Weigh In

PAAS has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group raised their price target on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, StockNews.com cut shares of Pan American Silver from a “buy” rating to a “hold” rating in a report on Sunday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average 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.