Pan American Silver ( (PAAS) ) has released its Q3 earnings. Here is a breakdown of the information Pan American Silver presented to its investors.
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Pan American Silver Corp., a leading producer of silver and gold in the Americas, operates mines across several countries and holds significant interests in exploration and development projects. The company recently reported its unaudited third-quarter results for 2025, highlighting a record attributable free cash flow of $251.7 million and an increased dividend of $0.14 per common share. The acquisition of MAG Silver Corp. and its 44% interest in the Juanicipio mine has already begun contributing significantly to Pan American’s operations and cash flow.
Key financial metrics for the third quarter include a record attributable revenue of $884.4 million and net earnings of $169.2 million, or $0.45 per share. The company also reported adjusted earnings of $181.0 million, or $0.48 per share. Attributable silver production was 5.5 million ounces, while gold production reached 183.5 thousand ounces. The company’s cash and short-term investments stood at $910.8 million, with total available liquidity of $1,660.8 million.
Strategically, Pan American has increased its 2025 silver production guidance to between 22.0 and 22.5 million ounces, while lowering its estimated all-in sustaining costs for the Silver Segment. The company is also exploring a two-phase development plan for its La Colorada Skarn project, which could offer a higher grade and less capital-intensive first phase. Additionally, the company continues to work on internal growth opportunities and has appointed Scott Campbell as the new Chief Operating Officer.
Looking ahead, Pan American Silver remains focused on strengthening its asset base and growth opportunities, with expectations of increased contributions from the Juanicipio mine and ongoing advancements at the La Colorada Skarn project. The company maintains a positive outlook for the remainder of 2025, with plans to sustain its operational excellence and prudent financial management.