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Pan American Silver Corp. logo

Pan American Silver Corp.

PAAS

NYSEBasic MaterialsGold

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Previous close

$53.07

+$1.15 · +2.21%

Aug 21, 4:00 PM ET

PAAS company overview

Historical prices · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

83

Deep Value

Momentum

28

Weakening

Sentiment

66

Bullish

Risk resilience

38

High Risk

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Thesis, catalysts, evidence, and risk analysis.

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AI-generated, informational only, and not investment advice.

Company profile

Company website

Pan American Silver Corp. is a mining enterprise dedicated to the full spectrum of metal operations, from discovery and site development to extraction, refinement, and environmental reclamation. The company focuses on precious and base metals including silver, gold, zinc, lead, and copper. Its extensive operations are situated across several countries, specifically Canada, Mexico, Peru, Argentina, and Bolivia, where it manages key mining properties such as La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, San Vicente, Joaquin, Cap-Oeste Sur Este, and Navidad. Founded in 1979 as Pan American Minerals Corp., the firm officially changed its name to Pan American Silver Corp. in April 1995 and is headquartered in Vancouver, Canada.

Industry
Gold
Sector
Basic Materials
Headquarters
CA
CEO
Michael Steinmann
Listed since
Jun 12, 1995
Employees
9,348

Market position

Day range

Current $53.07

52-week range

Current $53.07

Open
$53.28
Previous close
$51.92
Volume
14.11M
2.92× average
Average volume
4.83M
Average daily volume
Market cap
22.36B USD
Beta
1.55
Market reference 1
50-day average
$46.2836
+14.66% above average
200-day average
$51.5287
+2.99% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
19.49B USD
P/E (TTM)
16.03×
P/B (TTM)
3.03×
P/S (TTM)
5.2×
EV / EBITDA
10.53×
Earnings yield
5.03%
Free cash flow yield
5.47%
Dividend yield
1.29%

Profitability & efficiency

Gross margin
44.57%
Operating margin
39.18%
Net margin
32.09%
Return on equity
14.25%
Return on assets
10.23%
Return on invested capital
10.49%

Financial health

Debt / equity
0.11×
Current ratio
2.69×
Altman Z-score
6.04
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends44%20%-5%-29%Gross margin, FY2021: 22.53%Gross margin, FY2022: 3.24%Gross margin, FY2023: 12.81%Gross margin, FY2024: 19.46%Gross margin, FY2025: 37.66%Operating margin, FY2021: 19.65%Operating margin, FY2022: -17.55%Operating margin, FY2023: 1.65%Operating margin, FY2024: 18.83%Operating margin, FY2025: 32.27%Net margin, FY2021: 5.97%Net margin, FY2022: -22.75%Net margin, FY2023: -4.48%Net margin, FY2024: 3.96%Net margin, FY2025: 27.02%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 22.53%. Gross margin FY2022 3.24%. Gross margin FY2023 12.81%. Gross margin FY2024 19.46%. Gross margin FY2025 37.66%. Operating margin FY2021 19.65%. Operating margin FY2022 -17.55%. Operating margin FY2023 1.65%. Operating margin FY2024 18.83%. Operating margin FY2025 32.27%. Net margin FY2021 5.97%. Net margin FY2022 -22.75%. Net margin FY2023 -4.48%. Net margin FY2024 3.96%. Net margin FY2025 27.02%.

Income trends

Revenue

3.68B USD+30.63%

Operating income

1.19B USD+123.94%

Net income

995.12M USD+792.48%
Income trends across reported periods4.08B USD2.48B USD866.66M USD−742.3M USDRevenue, FY2021: 1.63B USDRevenue, FY2022: 1.49B USDRevenue, FY2023: 2.32B USDRevenue, FY2024: 2.82B USDRevenue, FY2025: 3.68B USDOperating income, FY2021: 320.91M USDOperating income, FY2022: −262.3M USDOperating income, FY2023: 38.1M USDOperating income, FY2024: 530.7M USDOperating income, FY2025: 1.19B USDNet income, FY2021: 97.43M USDNet income, FY2022: −340.06M USDNet income, FY2023: −103.7M USDNet income, FY2024: 111.5M USDNet income, FY2025: 995.12M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 1.63B USD. Revenue FY2022 1.49B USD. Revenue FY2023 2.32B USD. Revenue FY2024 2.82B USD. Revenue FY2025 3.68B USD. Operating income FY2021 320.91M USD. Operating income FY2022 −262.3M USD. Operating income FY2023 38.1M USD. Operating income FY2024 530.7M USD. Operating income FY2025 1.19B USD. Net income FY2021 97.43M USD. Net income FY2022 −340.06M USD. Net income FY2023 −103.7M USD. Net income FY2024 111.5M USD. Net income FY2025 995.12M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue3.68B USD2.82B USD2.32B USD1.49B USD1.63B USD
Cost of goods sold2.3B USD2.27B USD2.02B USD1.45B USD1.26B USD
Gross profit1.39B USD548.5M USD296.8M USD48.4M USD367.94M USD
Selling, general, and administrative118.03M USD69.8M USD61.4M USD29M USD34.85M USD
Operating expenses198.41M USD17.8M USD258.7M USD310.7M USD47.03M USD
Interest income90.56M USD—16.29M USD5.16M USD—
Interest expense59.02M USD50.84M USD58.25M USD7.32M USD8.65M USD
Depreciation and amortization532.16M USD571.7M USD484.2M USD316M USD302.96M USD
Operating income1.19B USD530.7M USD38.1M USD−262.3M USD320.91M USD
Net income995.12M USD111.5M USD−103.7M USD−340.06M USD97.43M USD

Company facts updated Aug 24, 2026.

Earnings

Latest fiscal-year EPS
2.61
FY2025 · +741.94% year over year
Latest fiscal-year revenue
3.68B USD
FY2025 · +30.63% year over year

Annual EPS trend

Reported history and fiscal-year consensus

ReportedConsensus forecast
Annual EPS trend3.031.34-0.35-2.04FY21FY22FY23FY24FY25

Annual revenue trend

Reported history and fiscal-year consensus

ReportedConsensus forecast
Annual revenue trend3.9B3.03B2.15B1.28BFY21FY22FY23FY24FY25

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$73.00

37.55% upside
Past 12 months12-month forecastHigh $94.00Average $73.00Low $53.00

Rating distribution

25 ratings
Strong buy00%
Buy1352%
Hold1040%
Sell28%
Strong sell00%

Recent analyst actions

8 institutions
TD CowenupgradeHoldBuy
RBC CapitalmaintainOutperform
TD SecuritiesmaintainBuy
BMO CapitalmaintainOutperform

PAAS news

seekingalpha.com

Pan American Silver: Deep Value Gold & Silver As A Hedge Against A Weak U.S. Dollar

Pan American Silver is reiterated as a BUY due to a low valuation, strong free cash flow, and a robust net-cash position. PAAS benefits from low-cost gold and silver production, with FY26 gold output significantly…

Read source
fool.com

Which Silver Mining ETF Is the Better Buy: Global X's SIL or iShares' SLVP?

Global X commands $4.8 billion in assets but lags on performance, while iShares delivers a 1.9% dividend yield with lower fees.

Read source
globenewswire.com

Surface Sampling Just Extended an Ontario Gold Trend to 560 Metres

COBALT, Ontario, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Canada News Group News Commentary - The most useful exploration results are often the cheapest ones. A crew already on site, equipment already mobilized, a few weeks of…

Read source
seekingalpha.com

Dividend Announcements: August 8-14, 2026

In this article series, I summarize dividend announcements of the past week. This week, 12 stocks announced dividend increases, while one announced a 52% dividend cut. BMI stands out with a 10% dividend increase, an…

Read source
zacks.com

PAAS Q2 Earnings Miss Estimates, Revenues Rise Y/Y on Metal Prices

Pan American Silver posts a 38.4% y/y revenue gain in Q2 as higher metal prices and silver production growth boost results, while earnings miss estimates.

Read source
zacks.com

PAAS Q2 Earnings Call Keeps Silver View, Flags Gold Pressure

Pan American Silver keeps its 2026 silver outlook at 25-27M ounces, while gold expectations moved to the low end amid Jacobina and El Pe????n pressures.

Read source

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$0.46

2025 complete year+35.3% since 2021

2026 partial: $0.544

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Aug 24, 2026

$0.184

Quarterly

Record Aug 24, 2026 · Payment Sep 4, 2026

Dividend

Ex-dividend May 19, 2026

$0.18

Quarterly

Record May 19, 2026 · Payment Jun 1, 2026

Dividend

Ex-dividend Mar 2, 2026

$0.18

Quarterly

Record Mar 2, 2026 · Payment Mar 13, 2026

Dividend

Ex-dividend Nov 24, 2025

$0.14

Quarterly

Record Nov 24, 2025 · Payment Dec 5, 2025

Dividend

Ex-dividend Aug 18, 2025

$0.12

Quarterly

Record Aug 18, 2025 · Payment Aug 29, 2025

Dividend

Ex-dividend May 20, 2025

$0.10

Quarterly

Record May 20, 2025 · Payment Jun 2, 2025

PAAS peers

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ETFs holding PAAS

Funds reporting this stock among their holdings, ordered by reported position size.

VanEck Gold Miners ETF logoVanEck Gold Miners ETFGDX
Market value
804.76M
Weight
2.59%
AUM
31.98B USD
Expense ratio
0.51%
Price / 1D
$102.83+2.98%
Global X - Silver Miners ETF logoGlobal X - Silver Miners ETFSIL
Market value
613.71M
Weight
11.37%
AUM
5.43B USD
Expense ratio
0.65%
Price / 1D
$99.55+2.14%
Amplify Junior Silver Miners ETF logoAmplify Junior Silver Miners ETFSILJ
Market value
123.84M
Weight
2.93%
AUM
4.22B USD
Expense ratio
0.69%
Price / 1D
$31.93+0.95%
Dimensional - International Value ETF logoDimensional - International Value ETFDFIV
Market value
37.69M
Weight
0.17%
AUM
22.06B USD
Expense ratio
0.27%
Price / 1D
$58.31+0.88%
Dimensional - International Core Equity 2 ETF logoDimensional - International Core Equity 2 ETFDFIC
Market value
21.83M
Weight
0.14%
AUM
15.43B USD
Expense ratio
0.22%
Price / 1D
$39.405+0.83%
Dimensional International High Profitability ETF logoDimensional International High Profitability ETFDIHP
Market value
13.46M
Weight
0.20%
AUM
6.65B USD
Expense ratio
0.27%
Price / 1D
$35.745+0.78%
American Beacon GLG Natural Resources ETF logoAmerican Beacon GLG Natural Resources ETFMGNR
Market value
13.21M
Weight
1.39%
AUM
915.55M USD
Expense ratio
0.75%
Price / 1D
$55.68+2.03%
Invesco S&P International Developed Momentum ETF logoInvesco S&P International Developed Momentum ETFIDMO
Market value
12.29M
Weight
0.29%
AUM
4.33B USD
Expense ratio
0.25%
Price / 1D
$62.88+1.16%

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