Cadence Wealth Management LLC Cuts Position in Pan American Silver Corp. $PAAS

Cadence Wealth Management LLC reduced its position in Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 30.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,232 shares of the basic materials company’s stock after selling 13,527 shares during the period. Pan American Silver makes up approximately 0.6% of Cadence Wealth Management LLC’s holdings, making the stock its 20th largest holding. Cadence Wealth Management LLC’s holdings in Pan American Silver were worth $1,171,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PAAS. XTX Topco Ltd increased its position in shares of Pan American Silver by 123.9% in the second quarter. XTX Topco Ltd now owns 52,331 shares of the basic materials company’s stock worth $1,486,000 after acquiring an additional 28,963 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Pan American Silver by 176.9% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 114,780 shares of the basic materials company’s stock valued at $4,445,000 after acquiring an additional 73,326 shares in the last quarter. J. Safra Sarasin Holding AG boosted its position in Pan American Silver by 117.9% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 43,946 shares of the basic materials company’s stock worth $1,702,000 after purchasing an additional 23,780 shares during the period. Hollencrest Capital Management increased its holdings in Pan American Silver by 214.3% in the 3rd quarter. Hollencrest Capital Management now owns 121,633 shares of the basic materials company’s stock valued at $4,711,000 after purchasing an additional 82,932 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its holdings in Pan American Silver by 363.2% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 151,801 shares of the basic materials company’s stock valued at $5,879,000 after purchasing an additional 119,028 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PAAS shares. Canadian Imperial Bank of Commerce set a $88.00 price objective on Pan American Silver and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Bank of America raised their target price on Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a report on Monday, December 1st. Weiss Ratings restated a “buy (b)” rating on shares of Pan American Silver in a report on Monday, December 29th. Scotiabank increased their price objective on shares of Pan American Silver from $47.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Wall Street Zen upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating in a research note on Saturday. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.60.

Pan American Silver Trading Up 6.2%

Shares of PAAS opened at $57.97 on Friday. Pan American Silver Corp. has a one year low of $20.55 and a one year high of $69.99. The stock has a 50-day moving average price of $54.90 and a 200 day moving average price of $42.64. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.55 and a current ratio of 2.31. The company has a market capitalization of $24.46 billion, a P/E ratio of 33.51, a P/E/G ratio of 0.55 and a beta of 0.66.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pan American Silver had a return on equity of 11.66% and a net margin of 19.52%.The business had revenue of $854.60 million for the quarter, compared to analysts’ expectations of $867.76 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Pan American Silver’s revenue for the quarter was up 19.3% compared to the same quarter last year. Sell-side analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

About Pan American Silver

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.