Seeking Alpha·2d ago
Pan American Silver Corp. (PAAS:CA) Q3 2026 Earnings Call TranscriptPan American Silver Corp. (PAAS:CA) Q3 2026 Earnings Call Transcript
Pan American Silver's transformative Yamana acquisition and the precious metals rally have driven a dramatic inflection, with revenue surging 49.2% year-over-year to $1.2B and gross margins expanding from 11.8% in 2024Q1 to 52.7% in 2026Q1.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth accelerated to 49.2% year-over-year in 2026Q1, with gross margin expanding to 52.7% from 11.8% in 2024Q1, reflecting strong operating leverage and higher metal prices.
Pan American Silver Corp. is highlighted for its potential to benefit from a revaluation of silver prices, offering significant upside.
PAAS is the top producer of silver and gold in the Americas, with 12 operating projects and 2 in development, providing strong operational scale.
The company is well-positioned to capitalize on sustained high gold and silver prices, driving revenue and profitability.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Nov 4, 2026 | $0.69+4.5% vs $0.66 | $986M-8.0% vs $1.1B |
Q3 2026 Aug 12, 2026 | $0.73-13.1% vs $0.84 | $1.1B-2.5% vs $1.1B |
Q2 2026 May 5, 2026 | $1.09+2.8% vs $1.06 | $1.1B-5.9% vs $1.2B |
Q1 2026 Feb 18, 2026 | $1.11+23.3% vs $0.90 | $1.2B+5.5% vs $1.1B |
Pan American Silver Corp. (PAAS:CA) Q3 2026 Earnings Call Transcript
Although the revenue and EPS for Pan American Silver (PAAS) give a sense of how its business performed in the quarter ended September 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Pan American Silver (PAAS) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.66 per share. This compares to earnings of $0.48 per share a year ago.
VANCOUVER, British Columbia--(BUSINESS WIRE)--Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American" or the "Company") reports third quarter ("Q3 2026") financial results. The Company will host a conference call and webcast on November 5, 2026 to discuss the results; details provided further in this news release. "Pan American continues to generate robust free cash flow. In the third quarter, we generated $377 million of Attributable(1) Free Cash Flow and returned $300 million to sh.
Benchmark PAAS against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Pan American Silver Corp. (PAAS)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $41.17 | $17.35B | 10.88 | 30.63% | 35.23% | 21.57% | 1.13% | |
| $15.16 | $7.47B | 19.09 | 128.18% | 22.52% | 11.85% | 0.14% | |
| $14.74 | $9.89B | 26.07 | 53.03% | 24.1% | 14.36% | 0.1% | |
| $15.47 | $15.94B | 22.96 | 96.41% | 19.25% | 8.02% | — | |
| $7.84 | $2.32B | 40.02 | 115.25% | 8.73% | 10.49% | — | |
| $120.91 | $127.4B | 13.75 | 22.16% | 35.05% | 26.32% | 0.83% |
Pan American Silver Corp. (PAAS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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Pan American Silver Corp. (PAAS) stock FAQ — growth, dividends, profitability & financials explained
Pan American Silver Corp. (PAAS) reported $4.45B in revenue over the trailing twelve months. Revenue was $3.68B in fiscal year 2025. That is 13180% more than the $27.7M of fiscal year 1996.
Pan American Silver Corp. (PAAS) grew revenue by 36.8% over the trailing twelve months, compared with the twelve months before.
Yes. Pan American Silver Corp. (PAAS) earned $1.57B in net income over the trailing twelve months (a 35.2% net margin).
Yes. Pan American Silver Corp. (PAAS) pays a dividend that yields 1.13% at the current price, a moderate yield.
Pan American Silver Corp. (PAAS) had a return on equity (ROE) of 21.6% over the trailing twelve months. That is well above the market's typical 10-15%.
Pan American Silver Corp. (PAAS) generated $1.57B in free cash flow over the trailing twelve months.
