Pan American Silver (PAAS) Achieves Record 7.3M Oz Silver Production in Q4, Exceeding FY 2025 Forecast
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6d ago
0mins
Source: seekingalpha
- Record Silver Production: Pan American Silver achieved a record 7.3 million ounces of silver production in Q4 2025, lifting its total output for the year to 22.8 million ounces, exceeding forecasts and indicating strong market performance and growth potential.
- Stable Gold Output: The company produced 197.8 thousand ounces of gold in the same quarter, bringing its total for FY 2025 to 742.2 thousand ounces, aligning with its annual guidance and reflecting stability and profitability in the gold market.
- Juanicipio Mine Success: Since its acquisition in September 2025, the Juanicipio mine has contributed 2.5 million ounces of silver and generated $44 million in revenue in December 2025, enhancing the company's cash flow and asset base.
- Capital Expenditure Plans: Pan American forecasts capital spending of $515 million to $550 million for 2026, including $320 million to $340 million for sustaining capital, demonstrating the company's commitment to future projects and ongoing investment strategies.
Analyst Views on PAAS
Wall Street analysts forecast PAAS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for PAAS is 49.70 USD with a low forecast of 43.19 USD and a high forecast of 55.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
4 Buy
2 Hold
0 Sell
Moderate Buy
Current: 64.820
Low
43.19
Averages
49.70
High
55.00
Current: 64.820
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.
