Pan American Silver Corp. (NYSE:PAAS) shares are trending on Thursday.
Check out the current price of PAAS stock here.
Shares of the Canada-based mining company declined 1.22% in after-hours trading to $37.90 on Wednesday, despite reporting record third-quarter results.
Record Financial Performance Drives Dividend Increase
Pan American Silver posted a record $251.7 million in attributable free cash flow for the third quarter. The board approved an increase in the quarterly dividend to $0.14 per common share. Cash and short-term investments totaled $910.8 million, with an additional $85.8 million held at Mexico's Juanicipio mine representing the company's 44% stake.
Pan American reported record attributable revenue of $884.4 million and net earnings of $169.2 million, or $0.45 per share, during the quarter ended Sept. 30.
MAG Silver Acquisition Boosts Production Outlook
The company completed its acquisition of MAG Silver Corp., a fellow Canadian miner, on Sept. 4, acquiring its stake in Juanicipio mine.
Despite only one month of contribution, management raised 2025 silver production guidance to 22.0-22.5 million ounces and lowered Silver Segment all-in sustaining costs to $14.50-$16 per ounce.
President and CEO Michael Steinmann said in the company’s third-quarter earnings release, “While we strengthened our asset base and growth opportunities through the MAG acquisition, we continue to advance our internal growth opportunities.”
Operational Metrics Show Strength
Attributable silver production for the third quarter totaled 5.5 million ounces, while gold output reached 183,500 ounces. Silver Segment all-in sustaining costs fell to $15.43 per ounce, down from $20.90 in the same quarter last year, excluding net realizable value inventory adjustments.
Stock Performance
The stock of the silver mining company has gained 79.55% year to date and 66.61% over the past six months.
It has a 52-week range of $19.80 to $42.57, with a market capitalization of $16.19 billion.
Price Action: According to Benzinga Pro data, Pan American Silver shares closed on Wednesday at $38.37, up $0.78, or 2.08%.
Benzinga's Edge Stock Rankings indicate strong performance, with a Momentum score of 90.26 and a Growth score of 97.60, with all time frames positive. Here is how the stock fares on other parameters.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
