Pan American Silver faces pressure amid analyst ratings and market decline
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 11 2024
0mins
Should l Buy PAAS?
Source: Coinmarketcap
Pan American Silver Corp (PAAS) is trading down approximately 9.06% in pre-market, hitting a 20-day low, as the overall precious metals sector faces significant pressure.
The stock's decline is influenced by its low ranking among analysts in the precious metals sector, suggesting potential underperformance. Despite this, some contrarian investors may see this as an opportunity for upside, particularly as PAAS is currently out of favor compared to peers like Newmont Corp and Barrick Mining Corp, which are also experiencing declines. The overall market sentiment is bearish, with the Nasdaq-100 down 0.81% and the S&P 500 down 0.67%, contributing to the sector's struggles.
As investors reassess their strategies in light of the current market conditions, the performance of PAAS may reflect broader trends in the precious metals market, potentially leading to cautious investment behavior.
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Analyst Views on PAAS
Wall Street analysts forecast PAAS stock price to fall
6 Analyst Rating
4 Buy
2 Hold
0 Sell
Moderate Buy
Current: 57.810
Low
43.19
Averages
49.70
High
55.00
Current: 57.810
Low
43.19
Averages
49.70
High
55.00
About PAAS
Pan American Silver Corp. is a producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. It owns a 100% interest in the Escobal mine in Guatemala, and it holds interests in exploration and development projects. Its segments include Silver, Gold and Other. Silver segment includes operations of La Colorada, Huaron, San Vicente, Cerro Moro, La Colorada Skarn, Navidad and Escobal. Gold segment includes operations in Dolores, Shahuindo, Timmins, Jacobina, El Penon and Minera Florida. La Colorada mine produces silver-rich lead and zinc concentrates from a flotation plant treating sulfide ore. Huaron mine produces silver-rich zinc, lead and copper concentrates using floatation technology. It owns 44% joint venture interest in the Juanicipio silver mine in Zacatecas, Mexico, operated by Fresnillo plc, along with 100% ownership of the Larder exploration project and a 100% earn-in interest in the Deer Trail exploration project.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Silver Prices Track Best Weekly Performance Since February
- Silver Price Surge: Spot silver (XAG/USD) has surged past $80 per ounce for the first time since April 21, marking a 4% increase from last week, indicating strong bullish momentum that could trigger a new rally in the precious metals market.
- Gold Breakthrough Imminent: Spot gold (XAU/USD) has risen 5% over the past three sessions, currently priced at nearly $4,734 per ounce, with analysts suggesting that gold is on the brink of the most significant breakout since the bull run began in October 2023, potentially boosting market sentiment.
- Oil Prices Impacting Markets: Brent crude has dropped 2.5% below $100 per barrel, with market analysts noting that falling oil prices typically push up bond prices and lower yields, thereby supporting assets like gold and silver.
- Bearish ETF Sentiment: Despite the iShares Silver Trust (SLV) rising nearly 4%, retail sentiment remains bearish, with SPDR Gold Shares (GLD) only edging up 0.8%, reflecting cautious investor attitudes towards precious metals.
See More
Pan American Silver Q1 Earnings Exceed Expectations
- Earnings Beat: Pan American Silver reported adjusted earnings of $1.09 per share for Q1, surpassing analyst expectations of $1.06, reflecting strong performance driven by rising silver and gold prices alongside disciplined cost management, despite a slight revenue miss.
- Revenue Details: The company generated approximately $1.15 billion in revenue for the quarter, falling short of Wall Street's $1.21 billion forecast, primarily due to the timing of concentrate shipments that resulted in a buildup of silver inventory, indicating market demand fluctuations.
- Cash Flow Performance: In Q1, Pan American Silver achieved operating cash flow of $505 million and free cash flow of $488 million, elevating its cash and short-term investments to a record $1.8 billion, thereby enhancing the company's financial flexibility.
- Future Investment Plans: The company aims to return up to $1 billion to shareholders by 2026 through dividends and share buybacks while continuing to invest in the La Colorada project, which is targeted to become one of the world's largest and lowest-cost silver mines.
See More
Pan American Silver Reports Q1 2026 Financial Results
- Strong Financial Performance: In Q1 2026, Pan American Silver reported revenues of $1.2 billion and net earnings of $456 million, translating to a basic earnings per share of $1.08, reflecting robust financial health amid rising silver and gold prices, which bolsters investor confidence.
- Free Cash Flow Growth: The company generated $488 million in free cash flow during the first quarter, bringing total cash and short-term investments to a record $1.8 billion, indicating significant achievements in cost management and production efficiency, which further supports future growth investments.
- Enhanced Shareholder Return Framework: The Board approved a new shareholder return framework targeting up to $1 billion in returns through share repurchases and increased dividends in 2026, demonstrating the company's commitment to enhancing shareholder value while continuing to generate strong free cash flow.
- Accelerated Project Investments: In Q1 2026, the company invested $8 million in the La Colorada Skarn project, with plans to invest $265 million over the next five years, aimed at increasing annual silver production and solidifying its competitive position in the global silver mining market.
See More
Pan American Silver Q1 Earnings Exceed Expectations
- Earnings Beat: Pan American Silver reported a Q1 Non-GAAP EPS of $1.09, exceeding expectations by $0.03, indicating a significant enhancement in profitability amid rising silver prices.
- Significant Revenue Growth: The company achieved $1.15 billion in revenue for Q1, a 48.7% year-over-year increase, which includes revenue from its 44% ownership stake in the Juanicipio project, reflecting strong performance in its silver mining operations.
- Production Guidance Outlook: For 2026, the company anticipates attributable silver production of 25 to 27 million ounces and gold production of 700 to 750 thousand ounces, indicating stable production capabilities and expected market demand in the coming years.
- Capital Expenditure Plans: Pan American Silver plans to allocate $320 to $340 million for sustaining capital expenditures and $240 to $255 million for project capital expenditures in 2026, demonstrating its commitment to ongoing investment and strategic positioning for future growth.
See More
Nord Precious Metals Reports High-Grade Silver Assays and New Drilling Phase
- High-Grade Silver Discovery: Nord Precious Metals reported a remarkable assay of 2,343.70 g/t silver in hole CS-26-129W2 at the Castle East project, including a stunning 9,510 g/t over a 0.30-meter interval, indicating significant mineral potential that could enhance the company's economic outlook.
- New Mineralized Intercept: The CS-21-73W1 hole revealed a new mineralized intercept, extending the known footprint of the Castle East system, which suggests increasing potential value for the project and may attract further investor interest.
- Fully Funded Drilling Phase: The company has commenced a fully funded 5,000-meter drilling phase as part of a 30,000-meter program aimed at validating historical data models and expanding the silver footprint, thereby enhancing future resource assessment capabilities.
- Historical Resource Base: The Castle East area hosts a historic inferred mineral resource of 7.56 million ounces of silver averaging 8,582 g/t, and with newly acquired leases, this could provide a long-term resource foundation for the company, boosting its competitive position in the market.
See More
Pan American Silver Reports Shareholder Meeting Voting Results
- Voting Results Overview: At the shareholder meeting held on April 30, 2026, in Vancouver, a total of 290,835,897 common shares were represented, accounting for 68.95% of the company's issued shares, indicating strong shareholder engagement in corporate governance.
- Board Size Resolution: The resolution to set the Board of Directors at ten members passed with a 99.62% approval rate, reflecting shareholders' endorsement of the company's governance structure and strategic direction.
- Election of Management Nominees: All management nominees for the Board received over 96% support, with Ignacio Bustamante achieving a notable 99.79% approval, demonstrating strong shareholder confidence in the management team.
- Auditor Appointment and Compensation Approval: Deloitte LLP was appointed as the company's auditors with 89.02% support, while the advisory resolution on executive compensation, known as
See More
Silver Prices Track Best Weekly Performance Since February
- Silver Price Surge: Spot silver (XAG/USD) has surged past $80 per ounce for the first time since April 21, marking a 4% increase from last week, indicating strong bullish momentum that could trigger a new rally in the precious metals market.
- Gold Breakthrough Imminent: Spot gold (XAU/USD) has risen 5% over the past three sessions, currently priced at nearly $4,734 per ounce, with analysts suggesting that gold is on the brink of the most significant breakout since the bull run began in October 2023, potentially boosting market sentiment.
- Oil Prices Impacting Markets: Brent crude has dropped 2.5% below $100 per barrel, with market analysts noting that falling oil prices typically push up bond prices and lower yields, thereby supporting assets like gold and silver.
- Bearish ETF Sentiment: Despite the iShares Silver Trust (SLV) rising nearly 4%, retail sentiment remains bearish, with SPDR Gold Shares (GLD) only edging up 0.8%, reflecting cautious investor attitudes towards precious metals.
See More
Pan American Silver Q1 Earnings Exceed Expectations
- Earnings Beat: Pan American Silver reported adjusted earnings of $1.09 per share for Q1, surpassing analyst expectations of $1.06, reflecting strong performance driven by rising silver and gold prices alongside disciplined cost management, despite a slight revenue miss.
- Revenue Details: The company generated approximately $1.15 billion in revenue for the quarter, falling short of Wall Street's $1.21 billion forecast, primarily due to the timing of concentrate shipments that resulted in a buildup of silver inventory, indicating market demand fluctuations.
- Cash Flow Performance: In Q1, Pan American Silver achieved operating cash flow of $505 million and free cash flow of $488 million, elevating its cash and short-term investments to a record $1.8 billion, thereby enhancing the company's financial flexibility.
- Future Investment Plans: The company aims to return up to $1 billion to shareholders by 2026 through dividends and share buybacks while continuing to invest in the La Colorada project, which is targeted to become one of the world's largest and lowest-cost silver mines.
See More
Pan American Silver Reports Q1 2026 Financial Results
- Strong Financial Performance: In Q1 2026, Pan American Silver reported revenues of $1.2 billion and net earnings of $456 million, translating to a basic earnings per share of $1.08, reflecting robust financial health amid rising silver and gold prices, which bolsters investor confidence.
- Free Cash Flow Growth: The company generated $488 million in free cash flow during the first quarter, bringing total cash and short-term investments to a record $1.8 billion, indicating significant achievements in cost management and production efficiency, which further supports future growth investments.
- Enhanced Shareholder Return Framework: The Board approved a new shareholder return framework targeting up to $1 billion in returns through share repurchases and increased dividends in 2026, demonstrating the company's commitment to enhancing shareholder value while continuing to generate strong free cash flow.
- Accelerated Project Investments: In Q1 2026, the company invested $8 million in the La Colorada Skarn project, with plans to invest $265 million over the next five years, aimed at increasing annual silver production and solidifying its competitive position in the global silver mining market.
See More
Pan American Silver Q1 Earnings Exceed Expectations
- Earnings Beat: Pan American Silver reported a Q1 Non-GAAP EPS of $1.09, exceeding expectations by $0.03, indicating a significant enhancement in profitability amid rising silver prices.
- Significant Revenue Growth: The company achieved $1.15 billion in revenue for Q1, a 48.7% year-over-year increase, which includes revenue from its 44% ownership stake in the Juanicipio project, reflecting strong performance in its silver mining operations.
- Production Guidance Outlook: For 2026, the company anticipates attributable silver production of 25 to 27 million ounces and gold production of 700 to 750 thousand ounces, indicating stable production capabilities and expected market demand in the coming years.
- Capital Expenditure Plans: Pan American Silver plans to allocate $320 to $340 million for sustaining capital expenditures and $240 to $255 million for project capital expenditures in 2026, demonstrating its commitment to ongoing investment and strategic positioning for future growth.
See More
Nord Precious Metals Reports High-Grade Silver Assays and New Drilling Phase
- High-Grade Silver Discovery: Nord Precious Metals reported a remarkable assay of 2,343.70 g/t silver in hole CS-26-129W2 at the Castle East project, including a stunning 9,510 g/t over a 0.30-meter interval, indicating significant mineral potential that could enhance the company's economic outlook.
- New Mineralized Intercept: The CS-21-73W1 hole revealed a new mineralized intercept, extending the known footprint of the Castle East system, which suggests increasing potential value for the project and may attract further investor interest.
- Fully Funded Drilling Phase: The company has commenced a fully funded 5,000-meter drilling phase as part of a 30,000-meter program aimed at validating historical data models and expanding the silver footprint, thereby enhancing future resource assessment capabilities.
- Historical Resource Base: The Castle East area hosts a historic inferred mineral resource of 7.56 million ounces of silver averaging 8,582 g/t, and with newly acquired leases, this could provide a long-term resource foundation for the company, boosting its competitive position in the market.
See More
Pan American Silver Reports Shareholder Meeting Voting Results
- Voting Results Overview: At the shareholder meeting held on April 30, 2026, in Vancouver, a total of 290,835,897 common shares were represented, accounting for 68.95% of the company's issued shares, indicating strong shareholder engagement in corporate governance.
- Board Size Resolution: The resolution to set the Board of Directors at ten members passed with a 99.62% approval rate, reflecting shareholders' endorsement of the company's governance structure and strategic direction.
- Election of Management Nominees: All management nominees for the Board received over 96% support, with Ignacio Bustamante achieving a notable 99.79% approval, demonstrating strong shareholder confidence in the management team.
- Auditor Appointment and Compensation Approval: Deloitte LLP was appointed as the company's auditors with 89.02% support, while the advisory resolution on executive compensation, known as
See More
