Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) announced a quarterly dividend on Friday, May 10th, Wall Street Journal reports. Stockholders of record on Tuesday, May 21st will be given a dividend of 0.035 per share by the basic materials company on Monday, June 3rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, May 20th.
Pan American Silver has decreased its dividend by an average of 20.2% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Pan American Silver has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pan American Silver to earn $0.63 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 22.2%.
PAAS traded down $0.37 during midday trading on Friday, reaching $11.44. 2,409,847 shares of the company’s stock traded hands, compared to its average volume of 1,998,051. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 13.36 and a beta of -0.15. Pan American Silver has a 52 week low of $11.43 and a 52 week high of $18.75.
A number of research analysts have commented on the company. BidaskClub raised Pan American Silver from a “strong sell” rating to a “sell” rating in a research report on Friday, April 26th. Zacks Investment Research raised Pan American Silver from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. Deutsche Bank raised Pan American Silver from a “hold” rating to a “buy” rating and lowered their price target for the company from $17.50 to $15.50 in a research report on Wednesday, April 10th. National Bank Financial assumed coverage on Pan American Silver in a research report on Tuesday, March 26th. They set a “sector perform” rating for the company. Finally, B. Riley reaffirmed a “neutral” rating and set a $12.50 price target (down previously from $22.00) on shares of Pan American Silver in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $16.97.
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Pan American Silver Company 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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