Canada's Pan American Silver Q1 adjusted EPS beats estimates

Overview

• Canada precious metals miner's Q1 adjusted EPS beat analyst expectations

• Board approved $265 mln investment to advance La Colorada Skarn project

Outlook

• Pan American reaffirms 2026 guidance for silver and gold production and all-in sustaining costs

• Company increases 2026 project capital expenditure guidance to $240-$255 mln from $195-$210 mln

• Pan American expects gold production to be more heavily weighted to Q4 2026

Result Drivers

• STRONG PRODUCTION AND COST CONTROL - Co said Q1 results were driven by strong production and disciplined cost management

• HIGHER METAL PRICES - Improved silver and gold prices quarter-over-quarter contributed to earnings

• LOWER SILVER SEGMENT COSTS - Silver Segment all-in sustaining costs fell due to higher gold prices and greater contribution from low-cost Juanicipio ounces

Company press release: ID:nBw4hy7x6a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the diversified mining peer group is "buy"

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 16 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.