Company Overview - Pan American Silver (PAAS) shares increased by 12.4% to close at $24.41, following a notable trading volume that exceeded typical levels [1] - The stock had previously experienced an 11.3% decline over the past four weeks [1] Market Context - The rise in Pan American Silver's shares is linked to a surge in gold and silver prices amid escalating U.S.-China trade tensions [2] - Recent tariff changes by Trump have set new rates at 10% for most U.S. trade partners for 90 days, while China faces a steep 125% tariff [2] Earnings Expectations - The company is projected to report quarterly earnings of $0.23 per share, reflecting a significant year-over-year increase of 2200% [3] - Expected revenues for the upcoming quarter are $714.95 million, which is an 18.9% increase compared to the same quarter last year [3] Earnings Estimate Revisions - The consensus EPS estimate for Pan American Silver has been revised 0.5% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation [4] - The stock currently holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook [4] Industry Comparison - Pan American Silver is part of the Zacks Mining - Silver industry, where Avino Silver (ASM) also operates [4] - Avino Silver's shares closed 17.1% higher at $1.71, with a 3.6% return over the past month [4] - Avino Silver's consensus EPS estimate has decreased by 50% over the past month to $0.01, indicating a challenging outlook compared to the previous year [5]

NOTICE OF 2025 ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS INFORMATION CIRCULAR March 17, 2025 (Page intentionally left blank) PAN AMERICAN What's Inside | Notice of our 2025 Annual General and Special Meeting of Shareholders | i | | --- | --- | | About this Information Circular | iii | | About the Meeting | | | ………………………………………………………………………………….……..…… | 1 | | Items of Business | | | ………………………………………………………………………….…….…..……… | 2 | | Notice and Access | | | ……………………………………………………………………………….…..……… | 3 | | Vot ...

Group 1: Stock Performance - Pan American Silver (PAAS) closed at $25.87, with a +0.47% change from the previous day, underperforming the S&P 500's daily gain of 1.77% [1] - The stock has increased by 5.36% over the past month, contrasting with the Basic Materials sector's loss of 0.29% and the S&P 500's loss of 5.73% [1] Group 2: Upcoming Financial Results - The company is expected to report an EPS of $0.28, reflecting a 2700% increase compared to the same quarter last year [2] - Revenue is anticipated to reach $731.71 million, indicating a 21.67% rise from the year-ago quarter [2] Group 3: Annual Estimates - For the annual period, earnings are projected at $1.26 per share and revenue at $2.9 billion, representing increases of +59.49% and +2.83% respectively from the previous year [3] - Recent analyst estimate revisions are crucial as they often indicate changes in short-term business dynamics, with positive revisions suggesting a favorable business outlook [3] Group 4: Valuation Metrics - Pan American Silver has a Forward P/E ratio of 20.52, which is lower than the industry average of 22.75, suggesting the stock is trading at a discount [6] - The company has a PEG ratio of 2.9, aligning with the Mining - Silver industry's average PEG ratio of 2.9 [7] Group 5: Industry Ranking - The Mining - Silver industry is currently ranked 146 in the Zacks Industry Rank, placing it in the bottom 42% of over 250 industries [7] - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]

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Financial Data and Key Metrics Changes - Revenue reached a record of $815.1 million in Q4 and $2.8 billion for the full year 2024, driven by the acquisition of Yamana mines and strong metal prices [6][10] - Cash flow from operations was a record $274.1 million in Q4 and $724.1 million for the full year, reflecting strong margins [9] - Free cash flow also set a record at $196.2 million in Q4 and $445.1 million for the full year [10] - Net earnings for Q4 were $107.8 million or $0.30 per share, while full year net earnings were $112.7 million or $0.31 per share [10][12] - The company entered 2025 with a net cash position of $887 million against approximately $800 million of debt, providing $1.6 billion in total available liquidity [13][15] Business Line Data and Key Metrics Changes - Silver production totaled 21.1 million ounces, while gold production reached a record of 892,000 ounces in 2024 [6] - All-in sustaining costs for silver were $18.98 per ounce, slightly above guidance, while gold segment costs were $1,501 per ounce, within guidance [7] Market Data and Key Metrics Changes - The company expects silver production in 2025 to be between 20 to 21 million ounces and gold production between 735,000 to 800,000 ounces, with production weighted towards the second half of the year [16] Company Strategy and Development Direction - The company plans to invest between $270 million to $285 million in sustaining capital and $90 million to $100 million in project capital in 2025 [18] - Investments will focus on La Colorada, Timmins, and Jacobina, with a strong emphasis on exploration and optimizing existing operations [19][20] - The company aims to maintain a focus on safe, efficient, and sustainable mining operations while capitalizing on the current strong metal price environment [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong financial position and ability to pursue growth objectives while returning capital to shareholders [13][14] - The company is optimistic about the integration of the Yamana assets and the potential for increased value generation in the Timmins district [42][44] - Management noted ongoing discussions regarding the Escobal project, emphasizing that progress is being made despite the lack of a published timeline for the consultation process [62][67] Other Important Information - The company announced a dividend of $0.10 per share for Q4 and has repurchased approximately $20 million worth of shares under its buyback plan [14][15] - Total dividends paid in 2024 amounted to $145.4 million, with over $1 billion returned to investors since 2010 [15] Q&A Session Summary Question: Guidance for La Colorada production in 2025 - Management explained that the guidance reflects a balance between short-term production and long-term exploration value [25][28] Question: Jacobina production guidance and optimization studies - Management indicated that ongoing optimization projects will impact production forecasts, with confidence in future throughput increases [35][36] Question: Timmins assets and their value post-Newmont sale - Management expressed optimism about the Timmins district's potential and the ability to generate value through collaboration with neighboring operations [41][42] Question: Escobal project consultation process - Management clarified that while there have been delays, discussions are ongoing, and they remain hopeful for a positive outcome [62][67] Question: Exploration focus for 2025 - Management confirmed that exploration remains a priority, with a substantial budget allocated for brownfield exploration [80][83] Question: Restart timeline for Escobal once approved - Management estimated it would take about one to two quarters to start production again, with full ramp-up expected thereafter [88][89]

Pan American Silver (PAAS) reported $815.1 million in revenue for the quarter ended December 2024, representing a year-over-year increase of 21.7%. EPS of $0.35 for the same period compares to -$0.04 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $805.2 million, representing a surprise of +1.23%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.35.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

Pan American Silver (PAAS) came out with quarterly earnings of $0.35 per share, in line with the Zacks Consensus Estimate. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this silver mining company would post earnings of $0.21 per share when it actually produced earnings of $0.32, delivering a surprise of 52.38%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Pan American Silv ...

Q4 2024 NEWS RELEASE All amounts expressed in U.S. dollars unless otherwise indicated. Tabular amounts are in millions of U.S. dollars and thousands of shares, options and warrants, except per share amounts, unless otherwise noted. Pan American Silver reports audited financial results for 2024, including record revenue, cash flow from operations and free cash flow • Company provides 2025 Operating Outlook Vancouver, B.C. - February 19, 2025 - Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American ...

In its upcoming report, Pan American Silver (PAAS) is predicted by Wall Street analysts to post quarterly earnings of $0.35 per share, reflecting an increase of 975% compared to the same period last year. Revenues are forecasted to be $812.87 million, representing a year-over-year increase of 21.4%.The consensus EPS estimate for the quarter has undergone a downward revision of 15.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Pan American Silver (PAAS) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 19, 2025, might help the stock move higher if these key numbers are bet ...