Monaco Asset Management SAM Lowers Holdings in Pan American Silver Corp. $PAAS

Monaco Asset Management SAM lowered its position in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 86.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,468 shares of the basic materials company’s stock after selling 254,532 shares during the quarter. Monaco Asset Management SAM’s holdings in Pan American Silver were worth $1,149,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. acquired a new position in shares of Pan American Silver during the first quarter worth about $358,000. Concurrent Investment Advisors LLC purchased a new stake in Pan American Silver in the 1st quarter valued at approximately $222,000. Envestnet Asset Management Inc. boosted its holdings in Pan American Silver by 3.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 33,916 shares of the basic materials company’s stock valued at $876,000 after purchasing an additional 1,054 shares in the last quarter. Linden Thomas Advisory Services LLC acquired a new position in Pan American Silver during the 1st quarter worth approximately $243,000. Finally, Alps Advisors Inc. purchased a new position in shares of Pan American Silver during the 1st quarter worth approximately $785,000. Institutional investors and hedge funds own 55.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wall Street Zen upgraded Pan American Silver from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. National Bank Financial raised Pan American Silver to a “strong-buy” rating in a report on Thursday, September 4th. CIBC upped their price target on shares of Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a report on Tuesday, October 14th. Finally, Scotiabank raised their price objective on shares of Pan American Silver from $36.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Pan American Silver Trading Up 2.9%

Shares of PAAS stock opened at $34.81 on Friday. The stock has a market cap of $14.69 billion, a P/E ratio of 24.01, a P/E/G ratio of 0.44 and a beta of 0.63. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15. Pan American Silver Corp. has a fifty-two week low of $19.80 and a fifty-two week high of $42.57. The business has a fifty day simple moving average of $36.83 and a 200-day simple moving average of $31.08.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $811.90 million for the quarter, compared to analyst estimates of $782.12 million. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS. On average, analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

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.