Core Insights - Pan American Silver Corp. (PAAS) reported a significant decrease in All-in Sustaining Costs (AISC) for its silver segment in Q1 2025, with AISC at $13.94, a 16% reduction year-over-year and well below the guidance of $21.00-$22.25 [1][9] Cost Performance - The year-over-year improvement in AISC was primarily driven by cost reductions at key mines, particularly at La Colorada, where AISC fell 29% to $19.72 per ounce due to enhanced ventilation conditions [2] - The Cerro Moro mine achieved a negative AISC of $4.40 per ounce, a significant improvement from $6.43 in Q1 2024, attributed to higher gold by-product credits and increased gold prices [3] - At the Huaron mine, AISC decreased by 6% to $13.09 per ounce, benefiting from lower treatment and refining charges and higher by-product credits from zinc and lead [3] Future Outlook - For 2025, PAAS anticipates the silver segment's AISC to be between $16.25 and $18.25 per ounce, indicating an improvement from the $18.98 per ounce in 2024, supported by ongoing cost benefits from La Colorada's ventilation upgrades and increased gold by-product credits from Cerro Moro [4] - The planned acquisition of MAG Silver Corp. could further reduce costs, as the Juanicipio project is expected to have an AISC between $6.00 and $8.00 per ounce in 2025 [5] Peer Comparison - First Majestic Silver (AG) reported an 11% year-over-year decline in AISC per silver equivalent ounce to $19.24 in Q1 2025, driven by the acquisition of Cerro Los Gatos, which added 2.3 million silver equivalent ounces of production [6][7] Stock Performance and Valuation - Year-to-date, PAAS shares have increased by 41.8%, outperforming the industry growth of 31.3% and the Basic Materials sector's rise of 9% [8] - PAAS is currently trading at a forward 12-month price-to-earnings multiple of 17.10X, slightly below the industry average of 18.02X [10] Earnings Estimates - The consensus estimate for PAAS's 2025 earnings is $1.52 per share, reflecting a year-over-year increase of 92.4%, with a 2026 estimate of $1.93, indicating a 27.2% rise [11]

Core Insights - Pan American Silver (PAAS) started 2025 with operating performance that met expectations, indicating a positive outlook for the year ahead [1] - Silver production reached 5 million ounces in the quarter, aligning with the high end of the projected range of 4.75 - 5 million ounces, consistent with the previous year's quarter [1] Production Performance - La Colorada experienced increased output due to improved ventilation conditions [2] - El Peñon saw production gains from higher throughput and better silver grades [2] - Huaron reported improved numbers from additional development but at lower grades [2] - Cerro Moro and San Vicente faced lower output due to mine sequencing into lower silver grade zones [3] - Dolores production decreased following the cessation of mining operations in July 2024 [3] Gold Production - Gold production was 182.2 thousand ounces, within the guidance of 175–189 thousand ounces, but lower than 222.9 thousand ounces from the previous year due to the sale of La Arena mine and lower grades at other sites [4] - Gold production for 2025 is projected at 735 – 800 thousand ounces, down from 895.5 thousand ounces in 2024 [6] Future Outlook - PAAS anticipates an increase in silver and gold production in the remaining quarters of 2025, maintaining silver production guidance at 20–21 million ounces [5] - The acquisition of MAG Silver Corp. for $2.1 billion is expected to enhance PAAS's production capabilities, particularly from the Juanicipio project, which is forecasted to produce 14.7-16.7 million ounces of silver in 2025 [7][8] Peer Comparison - Hecla Mining, a close competitor, reported a solid start to 2025 with 4.1 million ounces of silver and 34,232 ounces of gold produced in the first quarter [9] - Hecla Mining's silver production guidance for 2025 is set at 15.5 - 17.0 million ounces, compared to 16.2 million ounces in 2024 [9] Stock Performance - PAAS shares have increased by 41.8% year-to-date, outperforming the industry growth of 32.1% and the Basic Materials sector's rise of 7.2% [11][12] - The Zacks Consensus Estimate for PAAS's earnings for 2025 has risen by 9.7% over the past 60 days, with an expected earnings per share of $1.47, reflecting an 86.1% year-over-year increase [15]

Core Insights - The price of silver has increased by approximately 26% since the beginning of the year, surpassing $33 per ounce, indicating a strong upward trend in the market [1]. Group 1: Market Performance - Silver has been viewed as an ideal hedge by investors and analysts for years, reflecting its perceived value in uncertain economic conditions [1]. Group 2: Analyst Background - The analyst, Harrison, has over a decade of experience in the market and has a professional background in private equity, real estate, and economic research, enhancing the credibility of the insights provided [1].

Core Insights - Pan American Silver (PAAS) and First Majestic Silver (AG) are prominent players in the silver mining sector, both headquartered in Vancouver, Canada, and providing exposure to silver and gold [1][2] - Silver prices have increased by 28% and gold prices by 29% this year, driven by safe-haven demand, geopolitical tensions, and supply deficits [1] - The silver market is projected to face another deficit in 2025, which is expected to positively impact prices [1] Company Overview: Pan American Silver - Pan American Silver is a leading silver and gold producer in the Americas, operating 12 mines across several countries [3] - As of June 30, 2024, Pan American's mineral reserves included 468 million ounces of silver and 6.7 million ounces of gold, with an expected increase of 58 million ounces from the acquisition of MAG Silver Corp. [4][5] - The company reported a 28.6% year-over-year revenue increase to $773 million in Q1, with record mine operating earnings of $250.8 million [6][10] - Silver production was 5 million ounces in Q1, with expectations to meet 2025 guidance of 20-21 million ounces of silver [8][9] Company Overview: First Majestic Silver - First Majestic Silver focuses on silver and gold production primarily in Mexico and the U.S., operating four underground mines [13] - Proven and probable mineral reserves are estimated at 86.8 million ounces of silver and 594,000 ounces of gold as of December 31, 2024 [14] - The company achieved a 130% increase in Q1 revenues to $243.9 million, driven by the Cerro Los Gatos Silver Mine and higher silver prices [16][10] - Total production reached 7.7 million silver-equivalent ounces in Q1, marking a 49% year-over-year increase [15] Financial Performance Comparison - Pan American's adjusted earnings per share for 2025 are estimated at $1.47, reflecting an 86.1% year-over-year growth [21] - First Majestic's earnings estimate for 2025 is 12 cents per share, an improvement from a loss of 14 cents in 2024 [22] - PAAS stock has increased by 40% over the past year, outperforming the industry's growth of 18.5%, while AG has gained 30.7% [23] Valuation and Market Position - Pan American is trading at a forward price-to-sales multiple of 3.39X, below the industry average of 4.06X, while AG trades at 4.48X [25] - Pan American offers a dividend yield of 1.38%, significantly higher than First Majestic's 0.22% [27] - The average price target for Pan American suggests a 9% increase, while First Majestic's average price target implies a 2% decline [28] Investment Outlook - Both companies are positioned to benefit from rising silver and gold prices, with strong production expectations and expansion efforts [29] - Pan American has shown better performance in share price gains and dividend yield, along with positive earnings estimate revisions [30] - With a more attractive valuation and higher growth potential, Pan American Silver is viewed as a more compelling investment choice compared to First Majestic [33]

Company Performance - Pan American Silver (PAAS) ended the recent trading session at $28.97, showing a -1.29% change from the previous day's closing price, which lagged behind the S&P 500's 0.03% loss [1] - Prior to this trading session, shares of Pan American Silver had gained 23.32%, significantly outperforming the Basic Materials sector's gain of 3.05% and the S&P 500's gain of 0.6% [1] Earnings Forecast - The company is expected to release its earnings on August 6, 2025, with a predicted EPS of $0.33, indicating a 200% growth compared to the same quarter last year [2] - The latest consensus estimate predicts revenue of $740.32 million, reflecting a 7.87% increase compared to the same quarter of the previous year [2] Fiscal Year Estimates - For the entire fiscal year, Zacks Consensus Estimates predict earnings of $1.47 per share and revenue of $3 billion, indicating changes of +86.08% and +6.44%, respectively, from the previous year [3] Analyst Forecast Revisions - Recent revisions to analyst forecasts for Pan American Silver should be monitored, as they reflect short-term business trends and can indicate analyst optimism regarding the company's profitability [4] Zacks Rank and Valuation - Pan American Silver currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate having moved 0.96% higher in the past month [6] - The company is trading at a Forward P/E ratio of 19.92, which is a discount compared to the industry average Forward P/E of 26.7 [7] - The PEG ratio for PAAS is currently 0.54, aligning with the Mining - Silver industry's average PEG ratio of 0.54 [7] Industry Overview - The Mining - Silver industry is part of the Basic Materials sector and currently holds a Zacks Industry Rank of 23, placing it within the top 10% of over 250 industries [8] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]

Key Takeaways PAAS reported Q1 2025 mine operating earnings of $250.8M, a 255% increase from the prior-year quarter. Results marked five straight quarters of gains for PAAS, aided by cost control. PAAS' mine operating earnings saw an 11% CAGR from 2021-2024, despite a sharp 2022 decline.Pan American Silver Corp. (PAAS) reported record mine operating earnings of $250.8 million in the first quarter of 2025, marking a 255% year-over-year surge. This impressive performance was driven by higher metal prices an ...

Pan American Silver (PAAS) closed the most recent trading day at $28.96, moving +1.05% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.38%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq gained 0.24%. The stock of silver mining company has risen by 26.76% in the past month, leading the Basic Materials sector's gain of 4.23% and the S&P 500's gain of 6.6%.Analysts and investors alike will be keeping a close eye on the performance of ...

Core Insights - Pan American Silver Corp. (PAAS) is acquiring MAG Silver Corp. (MAG) in a $2.1 billion deal to enhance reserves and cash flows, solidifying its position in the silver mining industry [1][10] - The acquisition is expected to significantly boost PAAS' production and reduce costs, particularly through the Juanicipio project [3][5] Acquisition Details - MAG Silver's 44% stake in the Juanicipio project is a key asset, known as the world's largest-scale, highest-grade, and lowest-cost primary silver mine [3] - The deal has received approval from the boards of both companies and is pending regulatory approvals, including antitrust clearance from Mexican authorities [2] Production and Financial Impact - Juanicipio is forecasted to produce 14.7-16.7 million ounces of silver in 2025, with PAAS' share translating to approximately 6.5–7.3 million ounces [4] - This addition will complement PAAS' guided 2025 production of 20–21 million ounces, excluding Juanicipio [4] - The acquisition is expected to add 58 million ounces to PAAS' proven and probable silver reserves, which were 468 million ounces as of June 30, 2024 [6] - Juanicipio is projected to contribute $98 million in free cash flow to PAAS this year, with an expected growth of 23% over the next three years [6][10] Market Position and Performance - The combined market capitalization of PAAS and MAG Silver will be around $12.6 billion, surpassing competitors like First Majestic and Coeur Mining [8] - Year-to-date, PAAS shares have gained 41.8%, outperforming the industry's growth of 34.8% [9] Earnings Estimates - The Zacks Consensus Estimate for PAAS' earnings for 2025 is $1.47 per share, indicating a year-over-year surge of 86% [13] - The estimate for 2026 is $1.89, reflecting an increase of 28.7% [13]

Pan American Silver (PAAS) closed the last trading session at $24.20, gaining 0.7% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $31.23 indicates a 29.1% upside potential.The mean estimate comprises nine short-term price targets with a standard deviation of $4.44. While the lowest estimate of $26 indicates a 7.4% increase from the current price level, the most optimistic analyst ...

Group 1: Company Highlights - Carvana (CVNA) is a leading e-commerce platform for buying and selling used cars, with a Zacks Consensus Estimate for current year earnings increasing by 33.3% over the last 60 days [1] - PCB Bancorp (PCB) is a bank holding company offering various financial services, with a Zacks Consensus Estimate for current year earnings increasing by 14.2% over the last 60 days [2] - Pan American Silver (PAAS) focuses exclusively on silver mining, with a Zacks Consensus Estimate for current year earnings increasing by 10.7% over the last 60 days [3] - Howmet Aerospace (HWM) provides engineered solutions for the transportation and aerospace industries, with a Zacks Consensus Estimate for current year earnings increasing by 7.1% over the last 60 days [3] - Shore Bancshares (SHBI) is engaged in banking services, with a Zacks Consensus Estimate for current year earnings increasing by 5% over the last 60 days [4] Group 2: Market Insights - The Zacks Rank 1 (Strong Buy) List includes stocks that have shown significant increases in earnings estimates, indicating potential investment opportunities [5]