Pan American Silver reports Q4 EPS $1.11, consensus 89c

Reports Q4 revenue $1.2B, two estimates $1.12B. “Looking ahead to 2026, we expect another strong year of cash flow generation following the record $554 million of operating cash flow generated in Q4 2025 alone. Attributable silver production is forecast to increase by approximately 14% over 2025, with silver segment all-in sustaining costs of $15.75 to $18.25 per ounce, driven in large part by the contribution from the Juanicipio mine. With $1.3 billion in cash and short-term investments (excluding our $127 million share of cash at Juanicipio), we are well positioned to advance our growth projects – notably the La Colorada Skarn and Jacobina optimization – as well as to enhance shareholder returns. Today, we increased the dividend to $0.18 per common share with respect to Q4 2025 for the third consecutive quarterly increase, allowing shareholders to participate directly in rising net cash levels. In 2025, we returned $221 million to our shareholders in dividends and share buybacks, including $74 million in Q4.”