Pan American Silver Corp. (NYSE:PAAS) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 598,855 shares of the basic materials company’s stock after acquiring an additional 2,020 shares during the quarter. CIBC Asset Management Inc owned 0.16% of Pan American Silver worth $12,510,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Tidal Investments LLC raised its holdings in shares of Pan American Silver by 15,618.3% in the 1st quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock valued at $57,340,000 after purchasing an additional 3,779,309 shares in the last quarter. Van ECK Associates Corp raised its stake in Pan American Silver by 6.3% in the third quarter. Van ECK Associates Corp now owns 39,512,808 shares of the basic materials company’s stock valued at $824,632,000 after buying an additional 2,328,306 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Pan American Silver during the 2nd quarter worth about $38,116,000. Bank of New York Mellon Corp boosted its position in shares of Pan American Silver by 366.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,601,137 shares of the basic materials company’s stock worth $31,831,000 after acquiring an additional 1,258,205 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Pan American Silver by 51.1% in the 2nd quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company’s stock valued at $62,107,000 after acquiring an additional 1,056,981 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on PAAS. StockNews.com upgraded Pan American Silver from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Jefferies Financial Group upped their target price 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, Royal Bank of Canada lifted their price target on shares of Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Pan American Silver currently has an average rating of “Moderate Buy” and a consensus price target of $24.93.

Pan American Silver Stock Performance

Shares of Pan American Silver stock opened at $21.41 on Friday. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of -125.93 and a beta of 1.33. The firm’s fifty day simple moving average is $22.18 and its 200-day simple moving average is $21.29. 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 Corp. has a 12 month low of $12.16 and a 12 month high of $26.05.

Pan American Silver Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.40 annualized dividend and a dividend yield of 1.87%. Pan American Silver’s dividend payout ratio (DPR) is -235.28%.

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.