Perfect Day: Gold/Silver Jump While Miners Report Record Cash Flow
Lots of double-digit % gains
The payoff was worth the wait.
Gold and silver are spiking today, just as the miners report best-ever Q1 numbers. The result: Multiple near-double-digit percentage stock price gains. For example, major gold/silver producer Pan American Silver more than doubled earnings and cash flow year over year in Q1…
… and is now in a position to reward its shareholders. From the quarterly report:
ENHANCED SHAREHOLDER RETURN FRAMEWORK
On May 5, 2026, the Company’s Board of Directors approved an enhanced shareholder return framework (the “Shareholder Return Framework”) targeting the return of 35% to 40% of annual Attributable Free Cash Flow(1)(2) to shareholders through a combination of dividends and common share repurchases under Pan American’s NCIB that began on March 6, 2026. Based on the Shareholder Return Framework target and assuming that the current strong free cash flow generation continues, Pan American anticipates returning up to $1 billion to shareholders in 2026.
Under the Shareholder Return Framework for 2026, Pan American expects to pay aggregate dividends of $305 million during the year, paid in equal quarterly installments (currently equivalent to $0.18 per common share per quarter). Excess Attributable Free Cash Flow(1)(2) that is not distributed through dividends will be allocated to common share repurchases, at the Company’s discretion, through the NCIB. Please see the news release dated May 5, 2026 for further details.
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Needless to say, our Portfolio is having a good day. Stay tuned for behind-the-paywall notes on some of the most compelling stories.
Is truth social..offline..?...no flip flop tweets from Trumpy today..?
expect an ambush on miners..again on Q earnings....
Pan A only up.. 11,08
Lion one up 11,11 ...))
I'm not thrilled with Pan American's breakdown between dividends and share repurchases! Not at all. At this point Pan Am should be working on paying dividends of at least 2/3 of free cash flow! Why? Because part of those dividends are in fact returns of capital; mines are "wasting" assets after all. Management is rewarding THEMSELVES with fantastically exorbitant stock options/grants and using the stock buyback funds to purchase those shares in the market. Meanwhile the shareholders are left with a pittance of a dividend. Will sell our holdings at the first opportune moment and try to find mining management that wants to treat its shareholders right!