Analyst Consensus ?
ConsensusHold23 ratings
Bullish1356.5%
Neutral834.8%
Bearish28.7%
Pan American Silver Corp. · PAAS · FY2024 Q4 · Calendar Q1 2025
Pan American Silver Maintains 2025 Guidance Amid Expansion Plans
The call presents a constructive operating picture: strong 2024 performance and a maintained 2025 production outlook support the company’s near-term plan, while project execution, regulatory timing and metal-price sensitivity remain important tests.
Reported After market closeNYSEBasic Materials
$16.65B market cap
70quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.37
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $791.6M
Revenue surprise
—
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+4.9%
Event window
SPY move
-0.4%
Same window
Abnormal move
+5.3%
Stock minus SPY
Volume
1.8×
Versus trailing sessions
Subsequent drift
+3.5%
Up to 20 sessions
PAASSPY benchmark
Ask FN2 about PAAS FY2024 Q4
Transcript, numbers and history already loaded
What drove PAAS's +4.9% move after FY2024 Q4 earnings?What changed in PAAS's guidance and outlook in FY2024 Q4?Give me the bull and bear case for PAAS after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management emphasized the full-year contribution from the Yamana assets, a net cash position, continued exploration and project investment, and the expected progression of Escobal consultations. The analysis also identified residual heap leaching through mid-to-late 2026 as a new operating consideration.
Guidance delta
Management maintained 2025 production and cost guidance; no prior-quarter guidance comparison was supplied.
Key takeaways
- Management highlighted record revenue, operating cash flow and free cash flow in 2024.
- 2025 guidance calls for 20–21 million ounces of silver and 735,000–800,000 ounces of gold.
- La Colorada, Timmins and Jacobina projects are central to the operating plan.
- Escobal remains subject to consultation and regulatory timing.
Management priorities
- Advance La Colorada exploration and infrastructure projects.
- Improve recovery through Jacobina optimization and paste backfill.
- Develop Timmins tailings capacity and satellite deposits.
- Continue exploration focused on reserve replacement.
- Maintain dividends and share repurchases.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$40.15Current
$22Low
$58.44Average
$94High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 26, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Sep 16, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 9, 2026 |
| Jefferies | Hold | Hold | Maintain | Jul 6, 2026 |
| TD Cowen | Buy | Hold | Upgrade | May 12, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Jan 26, 2026 |
| CIBC | Outperform | Outperform | Maintain | Oct 10, 2025 |
| TD Securities | Buy | Buy | Maintain | Feb 27, 2025 |
| BMO Capital | Outperform | Outperform | Maintain | Jan 18, 2024 |
| Canaccord Genuity | Buy | Hold | Upgrade | May 12, 2022 |
| National Bank Of Canada | Outperform | Sector Perform | Upgrade | May 17, 2021 |
| Deutsche bank | Hold | Buy | Downgrade | Jan 13, 2021 |
| B. Riley Securities | Neutral | Neutral | Maintain | May 19, 2020 |
| B. Riley FBR | Neutral | Neutral | Maintain | May 19, 2020 |
| FBR Capital | Neutral | Neutral | Maintain | May 8, 2020 |
| B. Riley | Neutral | Neutral | Maintain | Oct 21, 2019 |
| National Bank Financial Inc | Outperform | Sector Perform | Upgrade | Aug 30, 2019 |
| National Bank Financial | Outperform | Sector Perform | Upgrade | Aug 30, 2019 |
| Bank of America | Underperform | Neutral | Downgrade | Nov 19, 2018 |
| Credit Suisse | Outperform | Neutral | Upgrade | Nov 22, 2017 |
| Raymond James | Outperform | Market Perform | Upgrade | Jun 27, 2016 |
| JP Morgan | Neutral | Neutral | Maintain | Jul 8, 2015 |
| Goldman Sachs | Sell | Neutral | Downgrade | Feb 25, 2014 |
| Cowen & Co. | Market Perform | Outperform | Downgrade | Jun 25, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $40.15. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Jefferies | Analyst unavailable | $53 | $46.29 | +32.0% | Jul 6, 2026 |
| TD Securities | Wayne Lam | $72 | $59.14 | +79.3% | May 11, 2026 |
| UBS | Analyst unavailable | $94 | $49.65 | +134.1% | Mar 26, 2026 |
| CIBC | Cosmos Chiu | $88 | $55.63 | +119.2% | Feb 4, 2026 |
| Scotiabank | Analyst unavailable | $64 | $67.54 | +59.4% | Jan 26, 2026 |
| Jefferies | Analyst unavailable | $54 | $57.68 | +34.5% | Jan 21, 2026 |
| Jefferies | Analyst unavailable | $50 | $44.39 | +24.5% | Dec 7, 2025 |
| Scotiabank | Ovais Habib | $47 | $36.47 | +17.1% | Oct 23, 2025 |
| CIBC | Analyst unavailable | $62 | $38.5 | +54.4% | Oct 10, 2025 |
| CIBC | Cosmos Chiu | $46 | $29.69 | +14.6% | Jul 15, 2025 |
| Jefferies | Matthew Murphy | $24 | $21.24 | -40.2% | Jan 7, 2025 |
| Scotiabank | Ovais Habib | $23 | $19.93 | -42.7% | Jun 18, 2024 |
| CIBC | Cosmos Chiu | $30 | $21.84 | -25.3% | May 22, 2024 |
| RBC Capital | Analyst unavailable | $22 | $18.09 | -45.2% | Jan 11, 2023 |
Track every rating change on PAAS the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationPan American Silver Corp. is a mining enterprise dedicated to the full spectrum of metal operations, from discovery and site development to extraction, refinement, and environmental reclamation. The company focuses on precious and base metals including silver, gold, zinc, lead, and copper. Its extensive operations are situated across several countries, specifically Canada, Mexico, Peru, Argentina, and Bolivia, where it manages key mining properties such as La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, San Vicente, Joaquin, Cap-Oeste Sur Este, and Navidad. Founded in 1979 as Pan American Minerals Corp., the firm officially changed its name to Pan American Silver Corp. in April 1995 and is headquartered in Vancouver, Canada.
Historical context
All PAAS earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CRS Carpenter Technology Corporation | FY2027 Q1 · Calendar Q4 2026 | +6.9% | -20.6% | CRS: Aerospace Bookings Accelerate as Guidance Holds |
| DOW Dow Inc. | FY2026 Q3 · Calendar Q4 2026 | +11.3% | +4.7% | Dow’s Q3 growth and self-help gains support a steady Q4 outlook |
| NEM Newmont Corporation | FY2026 Q3 · Calendar Q4 2026 | +12.2% | -2.6% | Newmont Holds 2026 Guidance as Projects Set Up 2027 Growth |
| SCCO Southern Copper Corporation | FY2026 Q3 · Calendar Q4 2026 | +6.4% | -2.1% | Southern Copper: Record Q3 results, projects advance amid execution risks |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the PAAS recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-02-05T00:02:40.001238+00:00
- Polygon adjusted daily market bars · 2026-10-26T02:00:43.555621+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-26T02:00:43.552853+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-26. For educational purposes only; not investment advice.