PAN AMERICAN SILVER CORP (PAAS) Form 6-K — Nov 4, 2026
Pan American Silver reported Q3 2026 net earnings of $357 million ($0.86 basic EPS), more than double the $169 million ($0.45 EPS) posted in Q3 2025, on revenue of $1.0 billion that rose 18% year-over-year. The surge was driven primarily by a 63% jump in average realized silver prices to $63.74/oz and a 23% rise in gold prices to $4,267/oz, plus a full-quarter contribution from the Juanicipio mine acquired in the $2,042 million MAG Silver deal.
Key figures
- Eps
- 0.86
- Revenue
- 1006
- Guidance
- 2026 silver production expected at low end of 25-27 Moz guidance; gold production revised down to 660-680 koz from 700-750 koz; Gold Segment AISC revised to $2,000-$2,150/oz from $1,700-$1,850/oz
- Net Income
- 357
- Total Debt
- 844
- Revenue Yoy
- 18% increase vs Q3 2025 ($855M)
- Cash Position
- 1510
- Shares Outstanding
- 412322
- Credit facility
- $1,500M undrawn, extended to July 2031
- Working capital
- $1,630M
- Share buyback q3
- $224M (4,753k shares at avg $47.12)
- Dividends paid q3
- $76M ($0.184/share)
- Net cash position
- $722M
- Adjusted earnings q3
- $287M ($0.69/share)
- Gold segment aisc q3
- $2,281/oz
- Realized gold price q3
- $4,267/oz
- Silver segment aisc q3
- $11.21/oz
- Realized silver price q3
- $63.74/oz
- Dividend declared nov 2026
- $0.185/share
- Juanicipio equity income q3
- $56M
- Cash flow from operations q3
- $377M
- Attributable free cash flow q3
- $377M
- Attributable gold production q3
- 167.9 koz
- Attributable silver production q3
- 6.07 Moz
AI analysis
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