Pan American Silver Corp. (PAAS) To Go Ex-Dividend on May 20th

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) announced a quarterly dividend on Thursday, May 8th, Wall Street Journal reports. Shareholders of record on Tuesday, May 20th will be given a dividend of 0.10 per share by the basic materials company on Monday, June 2nd. This represents a $0.40 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, May 20th.

Pan American Silver has raised its dividend by an average of 5.6% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Pan American Silver has a dividend payout ratio of 20.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pan American Silver to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 22.7%.

Pan American Silver Trading Down 0.6%

PAAS opened at $22.71 on Friday. Pan American Silver has a 1-year low of $17.86 and a 1-year high of $28.60. The company has a current ratio of 2.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The company has a market cap of $8.23 billion, a P/E ratio of 70.98 and a beta of 0.75. The company has a fifty day moving average price of $25.16 and a two-hundred day moving average price of $23.50.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.23. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The firm had revenue of $773.20 million during the quarter, compared to the consensus estimate of $696.62 million. During the same period in the previous year, the firm posted $0.01 earnings per share. The business’s revenue was up 28.6% compared to the same quarter last year. Analysts predict that Pan American Silver will post 1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its stake in shares of Pan American Silver by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,499,343 shares of the basic materials company’s stock valued at $38,728,000 after buying an additional 360,283 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Pan American Silver during the 1st quarter valued at approximately $1,272,000. AQR Capital Management LLC lifted its stake in shares of Pan American Silver by 48.6% during the 1st quarter. AQR Capital Management LLC now owns 19,529 shares of the basic materials company’s stock valued at $504,000 after buying an additional 6,391 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Pan American Silver by 574.9% during the 1st quarter. Jones Financial Companies Lllp now owns 19,518 shares of the basic materials company’s stock valued at $504,000 after buying an additional 16,626 shares in the last quarter. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. National Bankshares reissued an “outperform” rating on shares of Pan American Silver in a research report on Wednesday, April 2nd. Royal Bank of Canada boosted 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. TD Securities cut their price target on shares of Pan American Silver from $30.00 to $26.00 and set a “hold” rating on the stock in a report on Tuesday, May 13th. Scotiabank restated a “sector perform” rating on shares of Pan American Silver in a report on Monday, April 14th. Finally, CIBC boosted their price target on shares of Pan American Silver from $38.00 to $42.00 and gave the stock an “outperformer” rating in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Pan American Silver Company 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.