CIBC Asset Management Inc Grows Stake in Pan American Silver Corp. (NYSE:PAAS)

CIBC Asset Management Inc grew its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 0.1% in the fourth quarter, Holdings Channel reports. The firm owned 599,537 shares of the basic materials company’s stock after purchasing an additional 682 shares during the period. CIBC Asset Management Inc’s holdings in Pan American Silver were worth $12,101,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. US Bancorp DE grew its position in shares of 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 valued at $117,000 after purchasing an additional 660 shares in the last quarter. Principal Securities Inc. grew its position in Pan American Silver by 12.5% in the fourth quarter. Principal Securities Inc. now owns 5,977 shares of the basic materials company’s stock worth $121,000 after acquiring an additional 664 shares in the last quarter. Advisors Asset Management Inc. grew its position in Pan American Silver by 3.7% in the third quarter. Advisors Asset Management Inc. now owns 26,751 shares of the basic materials company’s stock worth $558,000 after acquiring an additional 951 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in Pan American Silver in the fourth quarter worth $27,000. Finally, Eastern Bank purchased a new position in Pan American Silver in the third quarter worth $28,000. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PAAS. Royal Bank of Canada upped their target price on shares of Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. StockNews.com downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday, December 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.92.

Pan American Silver Stock Performance

Pan American Silver stock opened at $24.70 on Wednesday. The company has a market capitalization of $8.97 billion, a PE ratio of -145.26 and a beta of 1.28. The firm has a fifty day simple moving average of $22.24 and a two-hundred day simple moving average of $21.86. 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 $12.19 and a twelve month high of $26.05.

Pan American Silver 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.