NFJ Investment Group LLC Has $11.10 Million Stock Position in Pan American Silver Corp. (NYSE:PAAS)

NFJ Investment Group LLC lowered its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 2.1% during the third quarter, Holdings Channel reports. The fund owned 531,947 shares of the basic materials company’s stock after selling 11,301 shares during the quarter. NFJ Investment Group LLC’s holdings in Pan American Silver were worth $11,102,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Eastern Bank acquired a new stake in Pan American Silver during the 3rd quarter valued at $28,000. Mark Sheptoff Financial Planning LLC raised 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 lifted its stake in Pan American Silver by 31.6% in the 2nd quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 510 shares in the last quarter. US Bancorp DE boosted its position in Pan American Silver by 13.4% during the 3rd quarter. US Bancorp DE now owns 5,600 shares of the basic materials company’s stock worth $117,000 after acquiring an additional 660 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position 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 Stock Performance

NYSE PAAS traded up $0.88 during trading on Tuesday, hitting $22.22. 740,823 shares of the company traded hands, compared to its average volume of 4,042,215. The business has a fifty day simple moving average of $22.55 and a 200 day simple moving average of $21.50. Pan American Silver Corp. has a 12 month low of $12.16 and a 12 month high of $26.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.96.

Pan American Silver Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.40 annualized dividend and a yield of 1.80%. Pan American Silver’s dividend payout ratio (DPR) is presently -235.28%.

Analysts Set New Price Targets

Several research analysts have weighed in on PAAS shares. Jefferies Financial Group upped their price objective on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, October 4th. StockNews.com lowered Pan American Silver from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Royal Bank of Canada boosted their target price 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.