Yamana Gold Inc. Announces Quarterly Dividend of $0.03 (NYSE:AUY)

Yamana Gold Inc. (NYSE:AUYGet Rating) (TSE:YRI) announced a quarterly dividend on Wednesday, November 23rd, Wall Street Journal reports. Investors of record on Friday, December 30th will be paid a dividend of 0.03 per share by the basic materials company on Friday, January 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, December 29th.

Yamana Gold has increased its dividend by an average of 77.8% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Yamana Gold has a payout ratio of 54.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Yamana Gold to earn $0.24 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 50.0%.

Yamana Gold Stock Up 1.3 %

Shares of NYSE:AUY opened at $5.34 on Thursday. The company has a current ratio of 1.98, a quick ratio of 1.52 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $4.62 and a 200 day simple moving average of $4.81. The firm has a market cap of $5.13 billion, a PE ratio of 20.54 and a beta of 1.18. Yamana Gold has a 12-month low of $3.70 and a 12-month high of $6.40.

Wall Street Analyst Weigh In

Several analysts have weighed in on AUY shares. TD Securities lowered their target price on shares of Yamana Gold from $7.00 to $6.00 in a research note on Monday, October 31st. StockNews.com started coverage on shares of Yamana Gold in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Yamana Gold has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

Hedge Funds Weigh In On Yamana Gold

Several hedge funds and other institutional investors have recently modified their holdings of AUY. BlackRock Inc. boosted its holdings in shares of Yamana Gold by 24.1% during the first quarter. BlackRock Inc. now owns 615,310 shares of the basic materials company’s stock valued at $3,434,000 after acquiring an additional 119,382 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Yamana Gold by 32.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,860,466 shares of the basic materials company’s stock valued at $15,961,000 after acquiring an additional 703,658 shares during the period. Sei Investments Co. boosted its holdings in shares of Yamana Gold by 71.6% during the first quarter. Sei Investments Co. now owns 21,176 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 8,839 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Yamana Gold during the first quarter valued at $387,000. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Yamana Gold by 36.2% during the first quarter. Allianz Asset Management GmbH now owns 4,995,139 shares of the basic materials company’s stock valued at $27,914,000 after acquiring an additional 1,328,590 shares during the period. Institutional investors and hedge funds own 55.45% of the company’s stock.

About Yamana Gold

(Get Rating)

Yamana Gold Inc, together with its subsidiaries, operates as a precious metal producer. It has gold and silver production, development-stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile, and Argentina. The company was formerly known as Yamana Resources Inc and changed its name to Yamana Gold Inc in August 2003.

Further Reading

Dividend History for Yamana Gold (NYSE:AUY)

Receive News & Ratings for Yamana Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yamana Gold and related companies with MarketBeat.com's FREE daily email newsletter.