Foundry Partners LLC Sells 38,723 Shares of Pan American Silver Corp. (NASDAQ:PAAS)

Foundry Partners LLC decreased its position in Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) by 5.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 725,706 shares of the basic materials company’s stock after selling 38,723 shares during the quarter. Foundry Partners LLC’s holdings in Pan American Silver were worth $11,379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. increased its position in shares of Pan American Silver by 105.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 765,988 shares of the basic materials company’s stock worth $10,150,000 after purchasing an additional 393,988 shares during the last quarter. Ingalls & Snyder LLC acquired a new position in Pan American Silver in the 2nd quarter valued at $3,762,000. Exane Derivatives grew its holdings in Pan American Silver by 9.7% in the 2nd quarter. Exane Derivatives now owns 23,528 shares of the basic materials company’s stock valued at $304,000 after buying an additional 2,081 shares in the last quarter. NEXT Financial Group Inc acquired a new position in Pan American Silver in the 2nd quarter valued at $194,000. Finally, SeaCrest Wealth Management LLC grew its holdings in Pan American Silver by 14.1% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 43,978 shares of the basic materials company’s stock valued at $568,000 after buying an additional 5,435 shares in the last quarter. Hedge funds and other institutional investors own 50.84% of the company’s stock.

Shares of PAAS stock traded up $0.23 on Thursday, hitting $16.14. 99,836 shares of the company’s stock were exchanged, compared to its average volume of 2,548,356. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.08 and a quick ratio of 2.98. Pan American Silver Corp. has a 12 month low of $10.26 and a 12 month high of $19.48. The stock has a market cap of $3.38 billion, a P/E ratio of 41.59, a price-to-earnings-growth ratio of 10.71 and a beta of -0.03. The company has a 50 day moving average of $16.63 and a 200 day moving average of $14.36.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Pan American Silver had a positive return on equity of 0.56% and a negative net margin of 2.39%. The business had revenue of $282.90 million during the quarter, compared to the consensus estimate of $320.98 million. During the same period in the prior year, the company earned $0.23 EPS. Pan American Silver’s revenue for the quarter was up 30.7% on a year-over-year basis. Sell-side analysts predict that Pan American Silver Corp. will post 0.37 EPS for the current fiscal year.

A number of analysts have recently weighed in on PAAS shares. ValuEngine upgraded Pan American Silver from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. B. Riley cut their target price on Pan American Silver from $23.20 to $19.00 and set a “neutral” rating for the company in a research report on Monday. Zacks Investment Research downgraded Pan American Silver from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub downgraded Pan American Silver from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Finally, National Bank Financial upgraded Pan American Silver from a “sector perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Pan American Silver presently has an average rating of “Hold” and an average target price of $20.66.

Pan American Silver Profile

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.

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Institutional Ownership by Quarter for Pan American Silver (NASDAQ:PAAS)

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