Bennicas Associates Lowers stake in Pan American Silver Corp. (USA) (PAAS)

Pan American Silver Corp. (USA) (PAAS) : Bennicas Associates reduced its stake in Pan American Silver Corp. (USA) by 1.57% during the most recent quarter end. The investment management company now holds a total of 78,550 shares of Pan American Silver Corp. (USA) which is valued at $1,389,550 after selling 1,250 shares in Pan American Silver Corp. (USA) , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Pan American Silver Corp. (USA) makes up approximately 1.22% of Bennicas Associates’s portfolio.

Other Hedge Funds, Including , New Harbor Financial Group sold out all of its stake in PAAS during the most recent quarter. The investment firm sold 52,200 shares of PAAS which is valued $923,418. Simplex Trading sold out all of its stake in PAAS during the most recent quarter. The investment firm sold 17,188 shares of PAAS which is valued $304,056.First Manhattan Co reduced its stake in PAAS by selling 7,000 shares or 2.09% in the most recent quarter. The Hedge Fund company now holds 327,300 shares of PAAS which is valued at $6,241,611. Pan American Silver Corp. (USA) makes up approx 0.04% of First Manhattan Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in PAAS by selling 5,810 shares or 28.33% in the most recent quarter. The Hedge Fund company now holds 14,698 shares of PAAS which is valued at $269,855.

Pan American Silver Corp. (USA) closed down -1.02 points or -5.45% at $17.69 with 31,58,830 shares getting traded on Wednesday. Post opening the session at $18.16, the shares hit an intraday low of $17.59 and an intraday high of $18.26 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Pan American Silver Corp. (USA) reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 12, 2016. Analyst had a consensus of $-0.03. The company had revenue of $158.30 million for the quarter, compared to analysts expectations of $165.16 million. The company’s revenue was down -11.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.13 EPS.

Many Wall Street Analysts have commented on Pan American Silver Corp. (USA). Company shares were Reiterated by FBR Capital on Jul 20, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 19 from a previous price target of $16 .Pan American Silver Corp. (USA) was Upgraded by Raymond James to ” Outperform” on Jun 27, 2016. Company shares were Reiterated by RBC Capital Mkts on Jun 13, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 15 from a previous price target of $12 .

Pan American Silver Corp (Pan American) is a Canada-based company engaged in the development and exploration of silver producing properties and assets. The Company’s principal product is silver and also produces and sells gold zinc lead and copper. It is engaged in mining operations and is developing mining projects in Mexico Peru Argentina and Bolivia and has control over non-producing silver assets in each of those jurisdictions and in the United States. The Company’s principal products and sources of sales are silver and gold ore as well as silver bearing zinc lead and copper concentrates. It operates among others the Huaron Morococha Alamo Dorado Dolores La Colorada Manantial Espejo and San Vicente mines.

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