Pan American Silver Reports Record Q4 Silver Output, Stock Rises 6.2%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 9h ago
0mins
Source: stocktwits
- Record Silver Production: Pan American Silver achieved a record silver output of 7.3 million ounces in Q4 2025, exceeding expectations and bringing total production for the year to 22.8 million ounces, highlighting the company's strong performance and growth potential in the silver market.
- Acquisition Impact: The acquisition of MAG Silver has strengthened Pan American's silver portfolio with a 44% joint venture interest in the high-grade Juanicipio silver mine in Mexico, with silver production expected to rise to between 25.0 million and 27.0 million ounces in 2026.
- Strong Financial Position: As of year-end, the company reported cash and short-term investments of approximately $1.32 billion, an increase of $408 million from September, with no debt, indicating robust liquidity and capital expenditure capacity.
- Cost Management Outlook: The company anticipates all-in sustaining costs for silver to range between $15.75 and $18.25 per ounce, while gold costs are expected to be between $1,700 and $1,850 per ounce, reflecting a focus on cost control and sustained profitability.
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: 58.620
Low
43.19
Averages
49.70
High
55.00
Current: 58.620
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.
