Pan American Silver Corp. (PAAS) AI Stock Analysis

Headquartered in Vancouver, Canada, Pan American Silver Corp. explores, develops, extracts, processes, and refines precious and base metals. The company operates mines across Canada, Mexico, Peru, Argentina, and Bolivia, producing silver, gold, zinc, lead, and copper. Key assets include the La Colorada, Dolores, Huaron, and Morococha mines. Founded in 1979 as Pan American Minerals Corp. and rebranded in 1995, the company focuses on operational efficiency, resource expansion, and sustainable mining practices across its diversified asset base.

Pan American Silver expanded revenue from $1.63B in FY2021 to $3.68B in FY2025, achieving a 5-year revenue CAGR of 22.4%. Operating margin rebounded from -17.5% in FY2022 to 32.3% in FY2025, while net margin improved to 27.0%. For FY2025, net income reached $995.1M, generating $1.08B in free cash flow. In the trailing twelve months ended June 30, 2026, revenue stood at $4.31B with an operating margin of 37.8%. In the latest quarter ended June 30, 2026, quarterly revenue grew 38.4% year-over-year, and quarterly earnings grew 38.5% year-over-year.

As of June 30, 2026, Pan American Silver held $1.70B in cash and short-term investments against $840.0M in total debt, yielding a net cash position of $863.0M. The company's current ratio was 2.94, and its debt-to-equity ratio stood at 0.11 on $7.35B of shareholders' equity. In FY2025, operating cash flow reached $1.40B, which funded $319.5M in capital expenditures, $178.1M in dividends paid, and $46.8M in share buybacks. The company's share count increased 99.7% over the past 5 years.

Pan American Silver trades at a trailing P/E of 13.1x and a forward P/E of 12.4x, compared to medians of 19.7x and 13.4x for its US-listed Basic Materials peers. Its EV to EBITDA ratio of 8.2x sits below the peer median of 10.5x, while its price-to-sales ratio of 4.3x is higher than the peer median of 1.8x. Over the past year, PAAS generated a 6.6% return, trailing the 16.8% return of the S&P 500 (SPY). Over 5 years, PAAS returned 94.2%, outpacing the SPY return of 83.0%.

Pan American Silver pays a quarterly dividend with an annualized forward rate of $0.74, representing a 1.66% dividend yield. The company has paid dividends for 17 consecutive years, with a 5-year annualized dividend growth rate of 15.9%. The payout ratio stands at 20.1%, and the last ex-dividend date was August 24, 2026.

Wall Street coverage includes 4 Strong Buy, 3 Buy, and 2 Hold ratings, with no Sell or Strong Sell ratings. The mean price target is $60.74, representing 37.4% upside against the last close of $44.21. For the fiscal year ending December 31, 2026, consensus estimates project EPS of $3.41, up 34.2%, on revenue of $4.44B. For the following fiscal year, 9 analysts project revenue of $4.73B and EPS of $4.36. The company beat EPS estimates in 2 of the last 4 quarters, and its next earnings date is November 4, 2026.

This page is an AI-written research summary of Pan American Silver Corp. (PAAS). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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