Scotiabank Issues Optimistic Estimate for PAAS Earnings

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) – Scotiabank raised their Q3 2026 earnings estimates for shares of Pan American Silver in a research report issued to clients and investors on Monday, September 21st. Scotiabank analyst O. Habib now expects that the basic materials company will post earnings of $0.71 per share for the quarter, up from their previous forecast of $0.67. Scotiabank has a “Outperform” rating on the stock. The consensus estimate for Pan American Silver’s current full-year earnings is $3.81 per share. Scotiabank also issued estimates for Pan American Silver’s Q4 2026 earnings at $0.78 EPS, FY2026 earnings at $3.27 EPS and FY2027 earnings at $2.66 EPS.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.11). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.16 billion. Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The firm’s quarterly revenue was up 38.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS.

Other equities research analysts also recently issued research reports about the company. Zacks Research upgraded Pan American Silver from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Jefferies Financial Group cut their price objective on Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, July 6th. BMO Capital Markets restated a “market perform” rating on shares of Pan American Silver in a report on Thursday, August 13th. Weiss Ratings lowered shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Finally, Bank of America decreased their price objective on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Pan American Silver currently has an average rating of “Moderate Buy” and an average target price of $67.71.

Pan American Silver Trading Up 0.8%

PAAS opened at $46.15 on Wednesday. The stock has a market capitalization of $19.10 billion, a PE ratio of 13.94, a P/E/G ratio of 4.50 and a beta of 0.77. Pan American Silver has a one year low of $33.08 and a one year high of $69.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.23 and a current ratio of 2.94. The business’s 50 day moving average price is $48.99 and its 200 day moving average price is $50.82.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Monday, August 24th were given a dividend of C$0.18 per share. This is a boost from Pan American Silver’s previous quarterly dividend of C$0.18. This represents a $0.74 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, August 24th. Pan American Silver’s dividend payout ratio is currently 22.36%.

Institutional Investors Weigh In On Pan American Silver

Several large investors have recently added to or reduced their stakes in PAAS. RFG Advisory LLC grew its stake in shares of Pan American Silver by 2.5% in the first quarter. RFG Advisory LLC now owns 7,731 shares of the basic materials company’s stock worth $422,000 after acquiring an additional 191 shares in the last quarter. Grand Central Investment Group increased its holdings in Pan American Silver by 0.5% during the 1st quarter. Grand Central Investment Group now owns 44,801 shares of the basic materials company’s stock worth $2,447,000 after purchasing an additional 211 shares during the period. North Star Investment Management Corp. raised its holdings in Pan American Silver by 7.8% in the first quarter. North Star Investment Management Corp. now owns 3,451 shares of the basic materials company’s stock valued at $189,000 after acquiring an additional 251 shares in the last quarter. Verus Capital Partners LLC raised its holdings in shares of Pan American Silver by 3.5% in the 4th quarter. Verus Capital Partners LLC now owns 11,082 shares of the basic materials company’s stock valued at $574,000 after purchasing an additional 378 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in Pan American Silver by 4.3% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 10,266 shares of the basic materials company’s stock worth $460,000 after buying an additional 419 shares during the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver News Summary

Here are the key news stories impacting Pan American Silver this week:

• Positive Sentiment: National Bank Financial raised its earnings outlook. The firm increased its FY2027 EPS forecast to $4.31 from $4.15 and FY2028 EPS to $6.65 from $6.45. It also lifted estimates for Q1 2027, Q2 2027, Q3 2027, Q4 2027 and Q2 2028. These revisions suggest stronger expected profitability and may support investor interest in PAAS.
• Positive Sentiment: Scotiabank also raised its near-term projections. Its Q3 2026 EPS estimate increased to $0.71 from $0.67, Q4 2026 to $0.78 from $0.74, and FY2026 to $3.27 from $3.21. Scotiabank maintained an “Outperform” rating, reinforcing the constructive view.
• Neutral Sentiment: Management’s Mining Forum Americas presentation provides additional investor visibility. The September 29 presentation may have offered updates on operations, commodities and growth plans, but the supplied coverage does not identify a specific new announcement likely to materially change valuation. Mining Forum Americas presentation transcript
• Negative Sentiment: National Bank Financial lowered its Q3 2026 EPS estimate to $0.82 from $0.87, indicating some potential near-term earnings pressure. Scotiabank’s FY2027 estimate also edged down to $2.66 from $2.67, although this was partly offset by its higher 2026 forecasts.
• Negative Sentiment: PAAS recently underperformed the broader market. Shares closed at $45.77 in the latest cited session, down 4.73%, suggesting recent selling pressure despite the improving analyst outlook. Zacks PAAS market performance analysis

About Pan American Silver

Pan American Silver Corp. is a precious metals mining company focused on the exploration, development, and operation of silver and gold mines. The company produces silver, gold, zinc, lead, and copper, with silver and gold representing its principal products.

Founded in 1994, Pan American Silver is headquartered in Vancouver, British Columbia, and has developed a portfolio of mining operations and projects across the Americas. Its activities have included operations in Canada, Mexico, Peru, Bolivia, Argentina, Brazil, and Chile, although its operating portfolio can change as assets are developed, acquired, or divested.