Pan American Silver (PAAS) Investor presentation summary
Event summary combining transcript, slides, and related documents.
Investor presentation summary
11 May, 2026Strategic 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.
Latest events from Pan American Silver
- Major project expansions and strong cash flow support long-term growth and shareholder returns.PAAS
Mining Forum Americas 2026 - Industry leader in silver reserves, growth, and returns, with major expansion at La Colorada Skarn.PAAS
Investor presentation - Record financials, major growth projects, and $1B in 2026 shareholder returns highlight industry leadership.PAAS
Investor presentation - Record $300M shareholder returns, strong cash flow, and high silver output highlight Q2.PAAS
Q2 2026 - 2026 silver output to rise 14% as project expansions and $1B returns boost growth.PAAS
Investor Day 2026 - Record Q1 free cash flow and a $1B return plan drive strong results and project investment.PAAS
Q1 2026 - Record earnings, cash flow, and a major acquisition drive growth and higher shareholder returns.PAAS
Q2 2025 - Record Q1 2025 earnings, strong cash flow, and cost outperformance support robust outlook.PAAS
Q1 2025 - Record 2024 results and strong 2025 outlook with stable production and continued shareholder returns.PAAS
Q4 2024