Pan American Silver Turns To Profit In Q4; Hikes Dividend

(RTTNews) - Pan American Silver Corp. (PAAS, PAAS.TO) reported that its fourth-quarter net earnings were $51.7 million or $0.25 basic per share, compared to net loss of $63.58 million or $0.42 per share in the prior year.

Adjusted earnings per share were $0.33 compared to a loss of $0.01 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.22 per share for the fourth-quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter significantly increased to $404.38 million from $173.36 million in the prior year. Analysts expected revenue of $409.38 million for the quarter.

In 2020, the company expects silver and gold production growth of about 7% and 16%, respectively.

The company increased the quarterly dividend by 43% to $0.05 per share.