Pan American Silver
TSX: PAAS
NYSE: PAAS
Silver
Producer
Pan American Silver is a mining company ticker symbol is PAAS and trades on the TSX stock exchange.
Price chart (TSX:PAAS)
Overview of Pan American Silver Corp
Management
Under President and CEO Michael Steinmann, Pan American Silver’s leadership emphasizes operational efficiency, cost discipline, and strategic growth. The management team has delivered record financial performance while advancing key projects and maintaining a shareholder returns program through dividends and share buybacks.
Projects
Operational Mines:
- Americas Portfolio: Ten active mines across Mexico, Peru, Chile, Bolivia, Brazil, Canada, and Argentina.
- La Colorada (Mexico): Ventilation upgrades aim to boost throughput to 2,000 tonnes/day in 2025. The high-potential La Colorada Skarn project is advancing, with potential partnerships under discussion.
- Juanicipio (Mexico): Recently acquired via the $2.1 billion MAG Silver transaction, adding a 44% stake in this tier-one, low-cost silver asset.
- Escobal (Guatemala): Consultation process ongoing; no restart timeline confirmed.
Financial Status
Q1 2025 Highlights:
- Revenue: $773.2M, driven by strong metal prices.
- Cash Position: $923M, with total liquidity of $1.7B, including an undrawn $750M credit facility.
- Profitability: Net earnings of $169.3M ($0.47/share) and free cash flow of $112.6M.
- Cost Efficiency: Silver segment AISC below guidance; gold segment AISC of $1,485/oz.
Table: Key Financial Metrics (Q1 2025)
| Metric | Value |
| Revenue | $773.2 million |
| Net Earnings | $169.3 million |
| Free Cash Flow | $112.6 million |
| Cash & Short-Term Investments | $923.0 million |
| Total Debt | $804.4 million |
Burn Rate & Runway: Positive free cash flow generation and robust liquidity provide ample runway for growth investments without near-term financing needs.
Short-Term Plans
- 2025 Production Guidance: 20–21Moz silver; 735–800koz gold.
- Cost Targets: Silver AISC of $16.25–18.25/oz; gold AISC of $1,525–1,625/oz.
- Capital Allocation: $270–285M in sustaining capital; $90–100M in project capital.
- MAG Integration: Close the acquisition in H2 2025.
Long-Term Strategy
- Growth Projects: Advance La Colorada Skarn studies and exploration at Juanicipio.
- Exploration: Focus on extending mine lives and resource conversion.
- Shareholder Returns: Sustain dividends and share buybacks.
- Portfolio Optimization: Prioritize high-margin silver production and strategic partnerships.
Pan American combines operational stability with strategic acquisitions to reinforce its position as a leading Americas-focused silver producer.
Projects
| Project | Commodity | Location |
|---|---|---|
| La Colorada Skarn Project | Silver | 22.748141297413923, -102.57585006935943 |
| Bell Creek mine | Gold | 48.5533183063985, -81.18031901687958 |
Latest news
Pan American Silver to Announce Second Quarter 2026 Unaudited Financial Results — Business Wire 5 days ago
https://stockhouse.com/news/press-releases/2026/07/09/pan-american-silver-to-announce-second-quarter-2026-unaudited-financial-results
https://stockhouse.com/news/press-releases/2026/06/01/pan-american-silver-provides-exploration-update-for-its-timmins-operations
https://stockhouse.com/news/press-releases/2026/05/27/pan-american-silver-releases-2025-sustainability-report
https://stockhouse.com/news/press-releases/2026/05/21/cassiar-district-polymetallic-system-funded-for-2026-drilling-inside-tightening
https://stockhouse.com/news/press-releases/2026/05/12/pan-american-silver-to-host-investor-day-on-june-1-2026
https://stockhouse.com/news/press-releases/2026/05/05/pan-american-silver-reports-first-quarter-2026-financial-results-strong-mine
https://stockhouse.com/news/press-releases/2026/05/05/pan-american-silver-targets-up-to-1-billion-in-shareholder-returns-in-2026
https://stockhouse.com/news/press-releases/2026/04/30/pan-american-silver-announces-results-of-annual-general-and-special-meeting
https://stockhouse.com/news/press-releases/2026/04/20/pan-american-silver-to-announce-first-quarter-2026-unaudited-results-on-may-5
https://stockhouse.com/news/press-releases/2026/03/24/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions
https://stockhouse.com/news/press-releases/2026/03/05/pan-american-silver-discovers-new-high-grade-veins-at-the-la-colorada-mine
https://stockhouse.com/news/press-releases/2026/03/04/pan-american-silver-announces-renewal-of-normal-course-issuer-bid
https://stockhouse.com/news/press-releases/2026/02/18/pan-american-silver-reports-record-fourth-quarter-and-full-year-2025-financial
https://stockhouse.com/news/press-releases/2026/01/20/pan-american-silver-achieves-2025-production-guidance-and-provides-guidance-for
https://stockhouse.com/news/press-releases/2025/12/05/pan-american-silver-early-warning-news-release
https://stockhouse.com/news/press-releases/2025/12/01/pan-american-silver-provides-2025-year-end-exploration-update
https://stockhouse.com/news/press-releases/2025/11/19/xali-gold-completes-due-diligence-visit-confirms-data-integrity-and-exploration
https://stockhouse.com/news/press-releases/2025/11/12/pan-american-silver-reports-unaudited-third-quarter-2025-results
https://stockhouse.com/news/press-releases/2025/10/28/xali-gold-outlines-plans-for-pico-machay-gold-project-in-peru
https://stockhouse.com/news/press-releases/2025/10/24/xali-gold-to-acquire-pico-machay-gold-project-in-peru
https://stockhouse.com/news/press-releases/2026/06/01/pan-american-silver-provides-exploration-update-for-its-timmins-operations
https://stockhouse.com/news/press-releases/2026/05/27/pan-american-silver-releases-2025-sustainability-report
https://stockhouse.com/news/press-releases/2026/05/21/cassiar-district-polymetallic-system-funded-for-2026-drilling-inside-tightening
https://stockhouse.com/news/press-releases/2026/05/12/pan-american-silver-to-host-investor-day-on-june-1-2026
https://stockhouse.com/news/press-releases/2026/05/05/pan-american-silver-reports-first-quarter-2026-financial-results-strong-mine
https://stockhouse.com/news/press-releases/2026/05/05/pan-american-silver-targets-up-to-1-billion-in-shareholder-returns-in-2026
https://stockhouse.com/news/press-releases/2026/04/30/pan-american-silver-announces-results-of-annual-general-and-special-meeting
https://stockhouse.com/news/press-releases/2026/04/20/pan-american-silver-to-announce-first-quarter-2026-unaudited-results-on-may-5
https://stockhouse.com/news/press-releases/2026/03/24/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions
https://stockhouse.com/news/press-releases/2026/03/05/pan-american-silver-discovers-new-high-grade-veins-at-the-la-colorada-mine
https://stockhouse.com/news/press-releases/2026/03/04/pan-american-silver-announces-renewal-of-normal-course-issuer-bid
https://stockhouse.com/news/press-releases/2026/02/18/pan-american-silver-reports-record-fourth-quarter-and-full-year-2025-financial
https://stockhouse.com/news/press-releases/2026/01/20/pan-american-silver-achieves-2025-production-guidance-and-provides-guidance-for
https://stockhouse.com/news/press-releases/2025/12/05/pan-american-silver-early-warning-news-release
https://stockhouse.com/news/press-releases/2025/12/01/pan-american-silver-provides-2025-year-end-exploration-update
https://stockhouse.com/news/press-releases/2025/11/19/xali-gold-completes-due-diligence-visit-confirms-data-integrity-and-exploration
https://stockhouse.com/news/press-releases/2025/11/12/pan-american-silver-reports-unaudited-third-quarter-2025-results
https://stockhouse.com/news/press-releases/2025/10/28/xali-gold-outlines-plans-for-pico-machay-gold-project-in-peru
https://stockhouse.com/news/press-releases/2025/10/24/xali-gold-to-acquire-pico-machay-gold-project-in-peru