Pan American Silver

PAAS

Market cap $24.2B

PAAS slashes silver AISC in 2025, but rising mine costs and mixed outlook across assets raise questions about sustaining its cost momentum into 2026.

Pan American Silver Corp. (PAAS:CA) Presents at Mining Forum Europe 2026 Transcript

In the latest trading session, Pan American Silver (PAAS) closed at $57.64, marking a +1.39% move from the previous day.

Why investors should use the Zacks Earnings ESP tool to help find stocks that are poised to top quarterly earnings estimates.

PAAS eyes 14% silver output growth in 2026, with Juanicipio's full-year contribution set to boost production despite rising cost pressures.

Pan American Silver beats industry in 3 months as record cash flow, rising silver output and MAG Silver deal boost growth outlook despite a softer gold forecast.

Despite the wicked sell-off in silver and gold this year, Pan American Silver continued to benefit from significantly higher prices in Q1 versus Q4 FY25. Today I'll take a fresh look at the company, including excellent exploration results at the world-class 100% owned La Colorada mine in Mexico. I'll also present commentary on the company's 2026 guidance and review Q1 earnings estimates (the Q1 report is due out May 5th, after the market closes).

Gold mining stocks were reaching for new heights in Q1 2026, but their quest got derailed as uncertainty arose about the outlook. The war in the Middle East can cause all sorts of problems for gold and gold miners, something likely to continue in Q2 2026. While an oil crisis is a short-term headwind for gold and gold miners, the long-term impact could be more positive for both.

Pan American Silver (PAAS) closed the most recent trading day at $55.58, moving +1.74% from the previous trading session.

I am shifting capital allocation toward scarcity-driven assets like energy, metals, infrastructure, and defense, as the abundance trade in software faces structural disruption from AI. My TOLL framework prioritizes companies with hard assets, durable competitive moats, and long-duration cash flows that are less vulnerable to AI-driven commoditization. Key investment themes include nuclear utilities (VST, CEG), copper producers (FCX), gold/silver streamers (FNV, WPM), grid/infrastructure suppliers (ETN, FIX), and defense/aerospace leaders (RTX, TDG).