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Pan American Silver (PAAS) investor relations material
Pan American Silver Investor presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Strategic asset base and growth initiatives
Operates 10 producing silver and gold mines across the Americas, with over 30 years of experience in the region.
Holds large mineral reserves: 452 million ounces of silver and 6.3 million ounces of gold as of June 2025.
Advancing optimization at Jacobina and future growth at La Colorada Skarn, Escobal, and Navidad.
Completed acquisition of MAG Silver Corp., further expanding resource base.
Financial and operational performance
Attributable Q1 2026 production reached 6.4 million ounces silver and 169.2 thousand ounces gold.
Silver Segment AISC at $6.63/oz and Gold Segment AISC at $1,851/oz, reflecting disciplined cost control.
Attributable revenue of $1.3 billion and free cash flow of $488 million in Q1 2026.
Net earnings of $456 million ($1.08/share) and adjusted earnings of $459 million ($1.09/share).
Declared $0.18 dividend per share and repurchased $25 million in shares under NCIB.
Margin expansion and cost discipline
Maintained attractive margins through disciplined cost performance and higher realized metal prices.
Silver and gold segment AISC consistently below realized prices, supporting profitability.
- Record Q1 free cash flow and a $1B return plan drive strong results and project investment.PAAS
Q1 20266 May 2026 - Record earnings, cash flow, and a major acquisition drive growth and higher shareholder returns.PAAS
Q2 202517 Apr 2026 - La Colorada expansion will make it the world's largest, lowest-cost silver mine, fueling growth.PAAS
Mining Forum Europe 202614 Apr 2026 - Guiding for 14% higher 2026 silver output, advancing La Colorada Skarn, and maintaining strong liquidity.PAAS
Investor presentation14 Apr 2026 - Expansion targets 19.1 Moz peak annual silver, negative AISC, and $2.6B NPV at base case.PAAS
Status update25 Mar 2026 - 2026 guidance targets higher silver output, strong margins, and continued shareholder returns.PAAS
Investor presentation25 Mar 2026 - Strong production growth, margin expansion, and major project advances drive future upside.PAAS
35th BMO Global Metals, Mining & Critical Minerals Conference23 Feb 2026 - Record 2025 results and strong liquidity support higher 2026 silver output and returns.PAAS
Q4 202519 Feb 2026 - Guiding for 14% higher silver output in 2026, with strong liquidity and major growth projects advancing.PAAS
Investor presentation19 Feb 2026
Next Pan American Silver earnings date
Next Pan American Silver earnings date
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