PAAS

Pan American Silver Corp. PAAS reported adjusted earnings of 73 cents per share for the second quarter of 2026, surging 69.8% year over year but missing the Zacks Consensus Estimate of 84 cents by 13.1%. Including one-time items, Pan American Silver reported earnings of 72 cents in the quarter compared with the year-ago quarter’s earnings of 52 cents. Pan American Silver Corp. price-consensus-eps-surprise-chart | Pan American Silver Corp. Quote Pan American Silver’s revenues improved 38.4% year over year to $1.12 billion in the quarter under review. The top line missed the Zacks Consensus Estimate of $1.16 billion. The average realized silver price in the quarter skyrocketed 115.7% year over year to $70.97 per ounce. The average realized gold price increased 33.2% year over year to $4,402 per ounce. Attributable silver production reached 6.47 million ounces, at the high end of the company’s quarterly operating outlook. Production increased 27% year over year. The increase mainly reflected 1.74 million ounces from the acquired 44% interest in Juanicipio, while Cerro Moro benefited from higher grades due to mine sequencing.Attributable gold production fell 7.2% to 165.9 thousand ounces. The figure came below the company’s quarterly operating outlook. Lower output at Shahuindo, Jacobina and El Peñon more than offset gains at Cerro Moro and the contribution from Juanicipio. Gold production came in below the company’s quarterly operating outlook.Pan American Silver reported mine-operating earnings of $457 million in the quarter compared with $273 million in the prior-year quarter. The Silver segment’s cash costs were $13.21 per ounce in the second quarter, down 9.9% from the year-ago period. The segment’s all-in sustaining costs (AISC) declined 9.5% year over year to $17.80 per ounce in the quarter. Low-AISC ounces from Juanicipio and stronger gold by-product credits at Cerro Moro helped offset higher royalties and operating costs at La Colorada, San Vicente and Huaron.The Gold segment’s cash costs were $1,585 per ounce, reflecting a 20.8% increase from the year-ago quarter. The segment’s AISC costs amounted to $1,984 per ounce in the April-June period, representing a year-over-year increase of 23.2%. The increase reflected lower-grade mining and higher haulage, maintenance, labor, consumables and ground-support costs across operations including Jacobina, Minera Florida, Timmins and Shahuindo. Cash flow from operations increased to $320 million from $294 million despite $205 million of income taxes paid. The attributable free cash flow was $344 million compared with $234 million a year earlier, including Pan American’s 44% share of Juanicipio.Pan American returned a record $300 million to shareholders during the quarter, including $224 million in share repurchases and $76 million in dividends. Cash and short-term investments totaled $1.8 billion at the quarter-end, including $97 million attributable to Juanicipio. In July, the company doubled its revolving credit facility to $1.5 billion, with a $750-million accordion feature. Pan American Silver reaffirmed its 2026 operating outlook for silver and gold production, base-metal production, segment AISC and sustaining capital. Silver production is projected at 25-27 million ounces, with silver segment AISC of $15.75-$18.25 per ounce.The company expects gold production to finish at the low end of 700-750 thousand ounces and gold segment AISC at the high end of $1,700-$1,850 per ounce. Third-quarter gold production is expected to be 3-6 thousand ounces below the low end of 178.5 to 192.0 thousand ounces. At La Colorada Skarn, the company invested $20 million of project capital in the first half of 2026 and completed the first cut of the 588 Decline in early August. Engineering for the next phase, including material handling and ventilation infrastructure, is scheduled for board consideration in the second half.At Jacobina, first-half project capital totaled $22 million as Pan American advanced plant and infrastructure improvements. The company also moved ahead with the first phase of the Timmins Camp Project, wherein the board approved a $146-million investment to extend the Bell Creek shaft and build exploration drifts. Shares of Pan American Silver have gained 51.1% in the past year compared with the industry’s growth of 77.6%. Image Source: Zacks Investment Research The company currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Endeavour Silver Corporation EXK reported adjusted earnings of 15 cents per share for the second quarter of 2026 against an adjusted loss of 3 cents incurred in the prior-year quarter. The bottom line met the Zacks Consensus Estimate.Endeavour Silver’s revenues skyrocketed 149.4% to $212 million from $85 million in the second quarter of 2025. The top line beat the Zacks Consensus Estimate of $201 million.First Majestic Silver Corp AG posted earnings per share of 21 cents for second-quarter 2026, which missed the Zacks Consensus Estimate of 25 cents. AG posted earnings of 4 cents per share in the year-ago quarter.First Majestic Silver’s revenues rose 57.2% year over year to $415 million in the quarter under review. Buenaventura Mining Company BVN reported second-quarter 2026 adjusted earnings per share of 94 cents, missing the Zacks Consensus Estimate of 98 cents. BVN posted earnings of 40 cents per share in the year-ago quarter.Buenaventura Mining’s revenues jumped 43.4% year over year to $529 million in the quarter under review. The top line missed the Zacks Consensus Estimate of $596 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pan American Silver Corp. (PAAS) : Free Stock Analysis Report Buenaventura Mining Company Inc. (BVN) : Free Stock Analysis Report Endeavour Silver Corporation (EXK) : Free Stock Analysis Report First Majestic Silver Corp. (AG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Pan American Silver Corp.? Here are five stocks we like better. Strong cash generation and shareholder returns: Pan American Silver reported $344 million in attributable free cash flow and returned a record $300 million to shareholders through buybacks and dividends. The company ended the quarter with $1.8 billion in cash and investments and approximately $3.2 billion in total available liquidity. Silver outlook maintained, but gold guidance is pressured: Second-quarter silver production reached 6.5 million attributable ounces, supporting the full-year guidance of 25 million to 27 million ounces. Gold production was below quarterly expectations, and the company now expects to finish at the low end of its 700,000-to-750,000-ounce annual guidance range. Operational challenges and project updates: Seismic activity at Jacobina and lower gold grades at El Peñón are weighing on gold output, while Pan American is pursuing mining and processing improvements at Jacobina. Development advanced at La Colorada and Timmins, but Escobal’s consultation process continues without a restart timeline. Gold and Silver Pulled Back—Here’s Why the Bull Case Is Intact Pan American Silver (NYSE:PAAS) reported second-quarter 2026 attributable free cash flow of $344 million and returned a record $300 million to shareholders through share repurchases and dividends, while maintaining its full-year operating outlook for silver and gold production and costs. President and CEO Michael Steinmann said the company produced 6.5 million attributable ounces of silver during the quarter, at the high end of its quarterly guidance range, supported by performance at La Colorada and Juanicipio. The company reaffirmed its 2026 silver production guidance of 25 million to 27 million ounces. → Lumentum Just Delivered the AI Growth Investors Wanted Silver Hits $95—These 3 Miners Could Outrun the Metal Silver segment all-in sustaining costs were $17.80 per ounce in the second quarter. Steinmann attributed the cost level primarily to higher-cost ounces from an inventory drawdown at La Colorada, higher royalties associated with mining on an adjacent third-party concession, unfavorable currency movements and higher labor-related costs. Attributable gold production totaled about 166,000 ounces in the second quarter, below the company’s quarterly outlook. Pan American expects the quarter to be its weakest for gold output in 2026 and said production should be more heavily weighted toward the fourth quarter. → Ryman Checks Into a $1.38B Hospitality Upgrade Gold and Silver Are on Fire—These Canadian Miners Ride the Wave While the company reaffirmed its full-year gold guidance range of 700,000 to 750,000 ounces, it now expects to finish at the low end of that range. It also reduced its third-quarter gold outlook to approximately 3,000 to 6,000 ounces below the lower end of its previously issued quarterly range of 178,500 to 192,000 ounces. The revised near-term outlook reflects lower-than-expected production at Jacobina and El Peñón. At Jacobina, Pan American now expects annual gold production to be about 10,000 ounces below the low end of its original guidance range of 181,000 to 191,000 ounces. → Joby’s Defense Pivot Accelerates With $500M Resonant Sciences Deal Steinmann said the company has responded to seismic activity at Jacobina by leaving larger pillars, reducing mining rates in some higher-grade areas and increasing development to open additional mining zones. He said the seismic events had not caused injuries or infrastructure damage, and characterized the production impact as a postponement rather than a loss of reserves. The company is also evaluating alternative mining approaches, including Avoca-type methods with waste-rock and cemented backfill, as part of an optimization program at Jacobina. Process plant upgrades, including new carbon-in-pulp tanks and electrical control systems, are expected to be commissioned this year. Pan American is studying whether to upgrade existing processing circuits or construct a new processing facility for the long-life asset. At El Peñón, silver production remains expected to fall within its original annual guidance range of 3.65 million to 3.95 million ounces. However, gold production is now expected to be about 10,000 ounces below the low end of the prior 104,000-to-111,000-ounce range. Steinmann said lower continuity in certain secondary structures led the company to replace planned material with ore from more silver-rich and less gold-rich areas. Revenue was $1.1 billion in the second quarter, while attributable revenue including Pan American’s 44% interest in Juanicipio was $1.3 billion. Net earnings were $305 million, or $0.72 per share, including a $179 million tax expense. Adjusted earnings were $0.73 per share. Cash flow from operations was $320 million after $205 million in income taxes paid and $17 million used for working capital. Attributable cash flow from operations, including Juanicipio, was $418 million. The company raised its 2026 guidance for income taxes paid to between $585 million and $635 million, citing higher profitability from metal prices and the settlement of prior-year tax obligations. CFO Ignacio Couturier said Pan American expects its full-year effective tax rate to remain in the low-30% range, though quarterly rates may vary because of adjustments and true-ups. Pan American ended the quarter with $1.8 billion in cash and short-term investments, including cash attributable to Juanicipio. In July, it renewed and amended its five-year senior unsecured revolving credit facility, doubling its size to $1.5 billion and adding a $750 million accordion feature. The facility was undrawn, bringing total available liquidity to about $3.2 billion. At La Colorada, Pan American reached the first cut of the 588 decline in early August, advancing access to the skarn deposit. Engineering work on the material-handling system and ventilation shaft is continuing, with a design, cost estimate, schedule and recommendation expected before year-end. At Timmins, the company is advancing the first phase of its Timmins Camp project, including the Bell Creek shaft extension and exploration drifts targeting the Vogel and Samson deposits. Pan American expects to issue updated mineral resource and reserve estimates in September and a preliminary economic assessment for the Timmins Camp project in the first half of 2027. The company said the ILO Convention 169 consultation process for Escobal remains underway, including government and Xinka representative meetings during the quarter. Steinmann said there is no timeline for completing the consultation and no restart date for the mine. Pan American repurchased more than 7 million shares under its normal course issuer bid through 2026 to date. The company declared a second-quarter dividend of $0.184 per common share. Steinmann said the company remains on track with its shareholder-return framework, which targets distributing approximately 35% to 40% of cash to shareholders through dividends and buybacks. Pan American also said weather associated with El Niño had disrupted road access and personnel transportation in Chile and affected operations in Argentina, though Steinmann said the impacts had not been material to operations so far. The company said it is preparing sites for potential additional rainfall while prioritizing safety. Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production. With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Pan American Silver Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Pan American Silver Corp. PAAS used its Q2 2026 earnings call to frame a split operating picture: silver remained strong, while gold expectations moved toward the low end of annual guidance. Adjusted earnings of $0.73 per share missed the Zacks Consensus Estimate of $0.84 by 13.10%. Revenues were $1.124 billion, while the Zacks data showed a 3.40% revenue miss. Management focused on operations and capital allocation. Pan American Silver Corp. price-consensus-eps-surprise-chart | Pan American Silver Corp. Quote President and CEO Michael Steinmann said attributable silver production of 6.5 million ounces reached the high end of quarterly guidance. The 2026 silver outlook remains 25 million to 27 million ounces. Gold production of 166,000 ounces missed the quarterly outlook. Steinmann expects full-year output at the low end of 700,000 to 750,000 ounces and Q3 output below the quarterly guidance floor. First-half silver AISC of $12.64 per ounce was below H1 guidance, while gold AISC of $1,918 was within range. Full-year gold AISC is expected at the high end of $1,700 to $1,850. President and CEO Michael Steinmann said Jacobina gold output should finish 10,000 ounces below the low end of its original range. The mine is leaving larger pillars and increasing development after reassessing seismic risk. A BofA Securities analyst asked whether the changes could affect 2027. Steinmann called the impact short-term and said backfill could support future pillar recovery, and noted Jacobina's reserve life extends into the 2050s. A TD Cowen analyst asked whether expansion potential remained intact. Steinmann said optimization is proceeding at full speed, including plant upgrades versus a new processing facility. Michael Steinmann said El Peñón gold production should finish 10,000 ounces below the original guidance floor because some secondary structures showed weaker continuity. Silver guidance of 3.65 million to 3.95 million ounces remains unchanged. A CIBC Capital Markets analyst asked why gold was more affected. Steinmann said replacement production shifted toward more silver-rich, less gold-rich areas while further drilling continues on the secondary structures. Steinmann also said El Niño has mainly complicated access and shift changes in Chile. Current effects are built into the plan, though the company warned of further weather disruption this year. Michael Steinmann highlighted the first cut of the 588 decline at La Colorada Skarn in early August. Material-handling and ventilation recommendations are expected before year-end. At Timmins, Pan American is advancing a $146 million first phase covering the Bell Creek shaft expansion and exploration drifts. Updated reserves and resources are planned for Q3, followed by a PEA in 2027's first half. At Escobal, Steinmann said the ILO 169 consultation continues without a completion timeline or restart date. In Q&A, he cited water and blasting vibration among discussion topics. Michael Steinmann said Pan American returned a record $300 million to shareholders in Q2 through dividends and buybacks, while attributable free cash flow reached $344 million. More than seven million shares had been repurchased this year. A BofA Securities analyst asked about the return program. Steinmann said the framework to distribute about 35% to 40% of cash remains in place, with the exact amount partly dependent on repurchase prices. CFO Ignacio Couturier said higher profitability and tax true-ups drove revised 2026 cash-tax guidance of $585 million to $635 million. He expects the full-year effective tax rate around the low-30% area. Michael Steinmann closed by reiterating balance-sheet strength, investment in La Colorada, Jacobina and Timmins, and shareholder returns as priorities. Pan American reported about $3.2 billion of liquidity with the revolving credit facility undrawn. The call paired confidence in silver and cash returns with tighter gold expectations. Management presented Jacobina's changes as precautionary and temporary while keeping attention on second-half execution. PAAS currently carries a Zacks Rank #4 (Sell), with a Value Score of C, Growth Score of A, Momentum Score of B and VGM Score of A. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The Zacks framework treats A and B Style Scores as stronger readings but gives priority to the Zacks Rank. Accordingly, the favorable Growth, Momentum and VGM scores do not override the Zacks Rank #4 per the methodology. The rank can change as estimates are revised after the just-reported results, making current signal time-sensitive. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pan American Silver Corp. (PAAS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Attributable silver production of 6.5 million ounces reached the high end of quarterly guidance, driven by strong operational performance at La Colorada and Juanicipio. Gold production of 166,000 ounces fell below quarterly outlooks due to mining sequence changes at Jacobina and lower-than-expected continuity in secondary structures at El Pe%c3%b1on. Management implemented precautionary measures at Jacobina, including larger pillars and reduced production in high-grade zones, to mitigate seismic risks without impacting long-term reserve viability. Silver segment all-in sustaining costs (AISC) of $17.80 per ounce were impacted by inventory drawdowns, higher royalties at La Colorada, and unfavorable currency exchange rates. The company returned a record $300 million to shareholders in Q2 through dividends and share repurchases, fulfilling the enhanced shareholder return framework announced in May. Operational challenges from El Ni%c3%b1o-related rainstorms in Chile and Argentina affected site access and logistics, though management is actively mitigating these through alternative transport and site preparation. Full-year gold production is now expected to be at the low end of the 700,000 to 750,000 ounce range due to revised mining sequences and geological continuity issues. Management anticipates gold production to be heavily weighted toward the fourth quarter, benefiting from higher grades and throughput at Timmins and Shahuindo. Income tax guidance for 2026 was increased to $585 million to $635 million for income taxes paid., reflecting higher profitability from metal prices and frictional costs of cash repatriation. A preliminary economic assessment (PEA) for the Timmins Camp Project is scheduled for the first half of 2027, following an updated mineral resource and mineral reserve estimate in Q3 2026. The Jacobina optimization study is evaluating a transition to paste backfill and a potential state-of-the-art processing facility to support a mine life extending into the 2050s. Seismic activity at Jacobina prompted a shift toward more conservative mining methods; while no infrastructure damage occurred, the move aims to ensure long-term safety and recovery of pillars. The ILO 169 consultation process for the Escobal mine remains ongoing with no definitive timeline for conclusion or mine restart despite recent government visits. A $1.5 billion renewed revolving credit facility, combined with $1.8 billion in cash, provides $3.2 billion in total liquidity to fund organic growth and M&A opportunities. Higher royalties at La Colorada in Q2 resulted from temporary mining in an adjacent third-party concession, a dynamic expected to normalize as mining returns to core company claims. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified that the 10,000-ounce production reduction is a short-term postponement rather than a loss of reserves. The implementation of paste backfill will eventually allow for the recovery of the larger pillars currently being left for stability. Long-term expansion potential remains unchanged, with the mine life still projected into the 2050s. Management confirmed the plan to distribute 35% to 40% of cash flow to shareholders remains in place. The company is currently ahead of schedule, having repurchased over 7 million shares year-to-date, including 2 million in July alone. The Q2 tax rate spike to 37% included true-ups from previous quarters and final settlements for 2025 profitability. Withholding taxes on repatriated cash from high-performing sites add 'frictional cost' to the overall tax guidance. Management expects the full-year effective tax rate to stabilize in the low 30s. Lower gold production resulted from moving out of secondary structures that lacked continuity and required more drilling. Production was shifted to silver-rich veins to maintain silver guidance, highlighting the mine's flexibility in blending different ore types.

For the quarter ended June 2026, Pan American Silver (PAAS) reported revenue of $1.12 billion, up 38.4% over the same period last year. EPS came in at $0.73, compared to $0.43 in the year-ago quarter. The reported revenue represents a surprise of -3.36% over the Zacks Consensus Estimate of $1.16 billion. With the consensus EPS estimate being $0.84, the EPS surprise was -13.1%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Pan American Silver performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Jacobina, Brazil - Cash costs per ounce sold: $1,468.00 versus $1,241.49 estimated by seven analysts on average. El Penon, Chile - Cash costs per ounce sold: $11.00 versus the seven-analyst average estimate of $96.72. Minera Florida, Chile - Cash costs per ounce sold: $2,578.00 compared to the $2,298.46 average estimate based on seven analysts. Cerro Moro, Argentina - AISC per ounce sold: $-58.37 versus $-26.50 estimated by seven analysts on average. Jacobina, Brazil - AISC per ounce sold: $1,805.00 versus the seven-analyst average estimate of $1,637.13. El Penon, Chile - AISC per ounce sold: $452.00 versus $455.81 estimated by seven analysts on average. Minera Florida, Chile - AISC per ounce sold: $2,990.00 versus $2,711.99 estimated by seven analysts on average. Cerro Moro, Argentina - Ounce Production - Silver: 593.00 Koz versus the seven-analyst average estimate of 710.36 Koz. El Penon, Chile - Average silver grade grams per tonne: 101 versus 101 estimated by seven analysts on average. Minera Florida, Chile - Average silver grade grams per tonne: 8 compared to the 12 average estimate based on seven analysts. Jacobina, Brazil - Average gold grade grams per tonne: 2 versus the seven-analyst average estimate of 2. El Penon, Chile - Average gold grade grams per tonne: 2 versus 3 estimated by seven analysts on average. View all Key Company Metrics for Pan American Silver here>>> Shares of Pan American Silver have returned +19% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pan American Silver Corp. (PAAS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Record quarterly shareholder returns of $300 million; Attributable silver production of 6.5 million ounces at the high end of quarterly guidance range; La Colorada Skarn project achieves an important milestone All amounts expressed in U.S. dollars unless otherwise indicated. Unaudited tabular amounts are in millions of U.S. dollars and thousands of shares, except per ounce amounts, unless otherwise noted. VANCOUVER, British Columbia, August 12, 2026--(BUSINESS WIRE)--Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American" or the "Company") reports second quarter ("Q2 2026") financial results. The Company will host a conference call and webcast on August 13, 2026 to discuss the results; details provided further in this news release. "Pan American delivered another quarter of strong financial results, generating $344 million in Attributable(1) free cash flow," said Michael Steinmann, President and Chief Executive Officer. "We produced 6.5 million ounces of silver, at the upper end of our quarterly guidance, driven by continued strong performance at La Colorada and Juanicipio. Gold production was 166 thousand ounces in Q2 and we expect production to increase over the balance of the year across our operations, weighted to the fourth quarter, as we had guided last quarter." "All-in sustaining costs in the first half of the year were below our guidance range for silver and in line for gold. In Q2, costs per ounce were primarily affected by lower gold production, higher consumables costs and increased labour-related costs and royalties, which reflect the increase in metal prices. We reiterate our 2026 Operating Outlook for production and costs, and remain focused on disciplined cost management and improving operating efficiencies." "We returned a record $300 million to shareholders in Q2 through dividends and share repurchases. We are delivering on the enhanced shareholder return framework we announced in May, repurchasing over seven million shares to date in 2026 under our Normal Course Issuer Bid. These share repurchases increase the dividend per share, as well as increase shareholder exposure to our future free cash flow generation," added Mr. Steinmann. "Our financial position remains robust. We ended the quarter with $1.8 billion in cash and investments, including cash attributable to our interest in Juanicipio. At the same time, we continue to invest in the safe and reliable operation of our mines and in projects that support future growth. In July, we renewed and amended our five-year senior unsecured revolving credit facility, doubling the size to $1.5 billion with an additional $750 million accordion feature, thereby increasing our total available liquidity to $3.2 billion." "We reached an important milestone at the La Colorada Skarn project in Mexico, completing the first cut of the 588 Decline in early August 2026. This marks a significant step forward in advancing this world-class silver project," said Mr. Steinmann. The following highlights for Q2 2026 include certain measures that are not generally accepted accounting principles ("non-GAAP") financial measures. Please refer to the section titled "Alternative Performance (Non-GAAP) Measures" at the end of this news release for further information on these measures. Q2 2026 Results: Revenue of $1.1 billion and Attributable(1) revenue of $1.3 billion, inclusive of the Company's 44% ownership share of revenue from Juanicipio. Net earnings of $305 million, or $0.72 basic earnings per share. A tax expense of $179 million was recorded. Adjusted earnings(2) of $308 million, or $0.73 basic adjusted earnings per share. Cash flow from operations of $320 million, net of $205 million of income taxes paid and $17 million use of cash for working capital(2). Attributable(1) cash flow from operations of $418 million, inclusive of the Company's 44% ownership share of cash flow from Juanicipio. Due to increased profitability as a result of higher metal prices than management had assumed for the first half of the year, we are increasing the guidance range for taxes paid to $585 million to $635 million, assuming silver and gold prices of $60 per ounce and $4,000 per ounce, respectively, in the second half of 2026. Attributable(1) free cash flow(2) of $344 million, inclusive of the Company's 44% ownership share of free cash flow from Juanicipio, and net of $205 million in taxes paid during Q2 2026, which is expected to be the highest period for taxes paid in 2026 due to the final settlement of taxes for 2025. Attributable(1) silver production of 6.47 million ounces, which was at the high end of the Company's 2026 Quarterly Operating Outlook(3) range. Attributable(1) gold production of 165.9 thousand ounces, which was below the 2026 Quarterly Operating Outlook(3) range. Silver Segment all-in sustaining costs ("AISC")(2)(4) of $17.80 per silver ounce were slightly above the 2026 Quarterly Operating Outlook(3) range. Gold Segment AISC(2)(5) of $1,984 per gold ounce were slightly above the 2026 Quarterly Operating Outlook(3) range. The Company reiterates its 2026 Operating Outlook(3) for silver and gold production and Silver Segment and Gold Segment AISC. Gold production is now expected to be at the low end of the annual 2026 guidance range and Gold Segment AISC is expected to be at the high end of the annual 2026 guidance range. Please refer to the "2026 Operating Outlook" section of this news release for further details. Cash and cash equivalents and short-term investments of $1.8 billion as at June 30, 2026, including $97 million of cash for the Company's 44% interest in Juanicipio. The Company's senior unsecured revolving credit facility (the "Credit Facility") is undrawn and Total Debt(2) of $841 million is primarily related to Senior Notes and lease obligations. Record total shareholder returns of $300 million through dividends and share repurchases. The Company repurchased for cancellation, approximately 4.4 million shares in Q2 2026 at an average price of $51.46 per share for a total consideration of approximately $224 million. Aggregate dividends paid were $76 million. As of close on August 11, 2026, the Company has repurchased a total of approximately 7.3 million shares at an average price of $49.22 per share for a total consideration of approximately $358 million. A cash dividend of $0.184 per common share, or approximately $76 million in aggregate, with respect to Q2 2026 was declared on August 12, 2026, payable on or about September 4, 2026, to holders of record of Pan American’s common shares as of the close of markets on August 24, 2026. The dividends are eligible dividends for Canadian income tax purposes. The declaration, timing, amount and payment of any future dividends remain at the discretion of the Company’s Board of Directors. PROJECT UPDATES La Colorada Skarn, Mexico The Company invested $20 million of project capital on the La Colorada Skarn project during the first half of 2026 ("H1 2026"), largely for continued exploration drilling, and to advance the engineering and preliminary work for the 588 Decline Project. Development of the 588 Decline Project commenced in August 2026, and is a crucial step towards development of the La Colorada Skarn project and to advancing the expansion of the La Colorada silver mine, as described in the revised preliminary economic assessment effective March 24, 2026. The next phase of development is also advancing, with engineering for the material handling system and ventilation shafts on schedule to be presented to the Board of Directors for approval in the second half of 2026. Jacobina, Brazil The Company invested $22 million of project capital at Jacobina during H1 2026, focused on enhancing infrastructure and making certain plant improvements, while advancing studies for overall long-term operational optimizations. The key project advances during H1 2026 included: the construction of new carbon-in-pulp tanks, which are expected to be fully commissioned in August 2026; initiation of construction activities for the main substation and motor control center upgrades; and further in-fill exploration drilling directed towards expanding the mineral reserve and mineral resource base. In addition, the process plant optimization program, focused on streamlining and simplifying the process plant flow sheet, is progressing in a trade-off study through conceptual engineering. A significant evaluation of this intensive brownfield project is being undertaken to develop either an approach to upgrade the existing process plant circuitry and remove obsolete equipment in isolated stages to avoid significant disruptions to ongoing operations, or to build a new, state-of-the-art processing facility. Meanwhile, a filtration plant, filtered tailings stack, and mine paste backfill preparation plant alternatives are being evaluated independently of the process plant upgrade projects. The conceptual engineering phase of these projects is nearing completion and is expected to advance to detailed engineering over the next few months. Escobal, Guatemala The ILO 169 consultation process for Escobal continues with the Ministry of Energy and Mines ("MEM"). The Vice Minister of the Environment and other government representatives visited the Escobal mine on May 28, 2026. On June 22, 2026, the Company met with representatives from the MEM and the Vice Ministry of Sustainable Development, who reported that advisors to the Xinka have been retained for bilateral meetings between the MEM and the Xinka representatives to review consultation activities. Accordingly, a bilateral meeting was held on July 7, 2026. On July 2, 2026, the Vice Minister of the MEM was promoted to Minister. While the consultation work is continuing, there is currently no timeline for the conclusion of the Escobal ILO 169 consultation process and no date for a restart of operations at the Escobal mine. Timmins, Canada On June 1, 2026, the Company announced a conceptual plan for a phased development of new mineral resources to support potential production growth and extension of mine life at Timmins (the "Timmins Camp Project"). In May 2026, the Company's Board of Directors approved the first phase of the project, with a total investment of $146 million to extend the shaft at the Bell Creek mine, and to construct two exploration drifts to access the Vogel and Samson deposits. The initial spending on this first phase is included in the Company's annual 2026 project capital guidance for Timmins. Pan American plans to publish an update to the estimated mineral reserves and mineral resources for Timmins and Vogel, as of June 30, 2026, with the corporate-wide update in the third quarter of 2026. The Company also plans to release a preliminary economic assessment for the Timmins Camp Project in the first half of 2027. 2026 OPERATING OUTLOOK Based on production and costs to date, the Company reiterates its 2026 Operating Outlook for silver and gold production, zinc, lead and copper ("base metal") production, Silver Segment and Gold Segment AISC, and sustaining capital expenditures, as provided in the Company's MD&A dated February 18, 2026. Management now expects full year 2026 gold production to be at the low end of its guidance range of 700 to 750 thousand ounces and third quarter 2026 gold production to be between three to six thousand ounces below the low end of the guidance range of 178.5 to 192.0 thousand ounces. The modifications to the planned gold production primarily relate to lower expected production at Jacobina and El Peñon, while gold production in the second half of the year is expected to improve at Timmins and Shahuindo due to increased throughput and mine sequencing into higher grade ores. Gold Segment AISC are expected to be at the high end of the guidance range of $1,700 to $1,850 per ounce as a result of these production impacts, as well as increased labour and consumables costs. We are also managing the impacts of El Niño on our operations in Chile and Argentina. Extreme rainstorms have affected site access for key personnel in July and into August and may continue to cause disruptions through the remainder of the year. At Jacobina, gold production is now expected to be approximately 10 thousand ounces below the low end of the original annual guidance range of 181 to 191 thousand ounces, reflecting changes to mining sequencing. The mining method employed at Jacobina over the last 40 years has been open stoping with very few of the stopes backfilled. Over the last several years, Jacobina has experienced seismic events. While these events have not resulted in any injuries or infrastructure damage, after reassessing the risks associated with seismicity, we have implemented measures in Q2 2026 that include leaving larger pillars, reducing production rates in some higher-grade areas and increasing development rates to open more mining zones. These measures will result in overall mining grades coming in closer to average mineral reserve grade. Longer-term, we are evaluating alternative AVOCA-type mining methods in certain areas with waste rock backfill, and cemented backfill as part of the optimization of the Jacobina operation. At El Peñon, silver production is expected to remain within the original annual guidance range of 3.65 to 3.95 million ounces. Gold production is now expected to be approximately 10 thousand ounces below the low end of the original annual guidance range of 104 to 111 thousand ounces, reflecting lower-than-expected continuity in certain secondary structures. Additionally, due to increased profitability as a result of higher metal prices than management had assumed for the first half of the year, we are increasing the guidance range for taxes paid to be between $585 million and $635 million, assuming silver and gold prices of $60 per ounce and $4,000 per ounce, respectively, in the second half of 2026. Please see Pan American's MD&A dated February 18, 2026, for further details on the Company's original 2026 Operating Outlook, including the original breakdown of the 2026 Operating Outlook by quarter. Please also refer to the "Cautionary Note Regarding Forward-Looking Statements and Information" at the end of this news release. AISC, adjusted earnings, basic adjusted earnings per share, sustaining and project capital, Attributable revenue, Attributable cash flow from operations, Attributable free cash flow, total available liquidity, working capital and total debt are non-GAAP financial measures. Please refer to the "Alternative Performance (non-GAAP) Measures" section of this news release for further information on these measures. This news release should be read in conjunction with Pan American's Q2 2026 Financial Statements and Q2 2026 MD&A. This material is available on Pan American’s website at https://panamericansilver.com/invest/financial-reports-and-filings/, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. CONFERENCE CALL AND WEBCAST Participants can register for the conference at: https://dpregister.com Upon registration, dial-in details will be displayed on screen and emailed as a calendar booking. Those unable to register may join the call by dialing: 1-833-752-3507 (toll-free in Canada and the U.S.)1-647-846-7282 (international participants)Web Phone https://hd.choruscall.com The live webcast and presentation slides will be available at https://panamericansilver.com/invest/events-and-presentations/. An archive of the webcast will also be available for three months. About Pan American Pan American is a leading producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. We also own a 44% joint venture interest in the Juanicipio mine in Mexico, a 100% interest in the Escobal mine in Guatemala that is currently not operating, and we hold interests in exploration and development projects. We have been operating in the Americas for over three decades, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "PAAS." Learn more at panamericansilver.com Follow us on LinkedIn Alternative Performance (Non-GAAP) Measures In this news release, we refer to measures that are non-GAAP financial measures. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning as prescribed by IFRS as an indicator of performance, and may differ from methods used by other companies with similar descriptions. These non-GAAP financial measures include: Adjusted earnings and basic adjusted earnings per share. Pan American believes that these measures better reflect normalized earnings as they eliminate items that in management's judgment are subject to volatility as a result of factors, which are unrelated to operations in the period, and/or relate to items that will settle in future periods. Attributable revenue, Attributable cash flow from operations, and Attributable free cash flow. Any reference to "Attributable" in this news release should be understood to reflect the Company's ownership share of results, which includes results from the operations that the Company has a 100% ownership interest in as well as from the operations, specifically the Juanicipio mine and the San Vicente mine, that the Company does not own a 100% interest in. Free cash flow is calculated as net cash generated from operating activities less sustaining capital expenditures. Free cash flow does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate the profitability of Pan American and identify capital that may be available for investment or return to shareholders. AISC. Any reference to "AISC" in this news release should be understood to mean all-in sustaining costs per silver or gold ounce sold, net of impact from by-product metals (respectively, the "Silver Segment AISC" or "Gold Segment AISC"), presented on an Attributable basis. Pan American believes that AISC, calculated net of by-products, is a more comprehensive measure of the cost of operating our consolidated business, given it includes the cost of replacing silver and gold ounces through exploration, the cost of ongoing capital investments at current operations ("sustaining capital"), as well as other items that affect the Company’s consolidated cash flow. AISC excludes capital investments that are expected to increase production levels or mine life beyond those contemplated in the base case life-of-mine plan ("project capital"). Total debt is calculated as the total current and non-current portions of: debt, including senior notes and amounts drawn on the Credit Facility, construction loans and lease obligations. Total debt does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate the financial debt leverage of Pan American. Working capital is calculated as current assets less current liabilities. Working capital does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate whether Pan American is able to meet its current obligations using its current assets. Total available liquidity is calculated as cash and cash equivalents plus short-term investments, plus undrawn amounts under the Credit Facility. Total available liquidity does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate the liquid financial resources available to the Company. Project capital refers to investments that are expected to increase production levels or mine life beyond those contemplated in the base case life-of-mine plan. Project capital does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate capital investments that are directed at increasing production levels or mine life beyond those contemplated in the base case life-of-mine plan. Readers should refer to the "Alternative Performance (non-GAAP) Measures" section of Pan American’s MD&A for the period ended June 30, 2026 for a more detailed discussion of these and other non-GAAP measures and a detailed reconciliation of these measures in the Q2 2026 Financial Statements. Cautionary Note Regarding Forward-Looking Statements and Information Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: future financial or operational performance, including our estimated production of silver, gold and other metals forecasted for 2026, our estimated AISC, and our sustaining and project capital expenditures in 2026; any anticipated benefits resulting from project capital expenditures; the anticipated dividend payment date of September 4, 2026; expectations regarding the continued delivery on the enhanced shareholder return framework announced in May; Juanicipio's expected contributions, including with respect to free cash flow, silver production, and a decrease in Silver Segment AISC; expectations regarding the development of the La Colorada Skarn, project upgrades at Jacobina, and plans related to the Timmins Camp Project, and any anticipated benefits to be derived therefrom; expectations regarding the release of results from a preliminary economic assessment for the Timmins Camp Project in the first half of 2027; expectations regarding the timing for release of updated reserves and resources information; expectations regarding the ILO 169 consultation process with respect to Escobal; and Pan American’s plans and expectations for its properties and operations. These forward-looking statements and information reflect Pan American’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by Pan American, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: the impact of inflation and disruptions to the global, regional and local supply chains; tonnage of ore to be mined and processed; future anticipated prices for gold, silver and other metals and assumed foreign exchange rates; the timing and impact of planned capital expenditure projects, including anticipated sustaining, project, and exploration expenditures; the ongoing impact and timing of the court-mandated ILO 169 consultation process in Guatemala; ore grades and recoveries; capital, reclamation estimates; our mineral reserve and mineral resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions at any of our operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and regulatory approvals for our operations are received in a timely manner; our ability to secure and maintain title and ownership to mineral properties and the surface rights necessary for our operations; whether Pan American is able to maintain a strong financial condition and have sufficient capital, or have access to capital through our corporate Credit Facility or otherwise, to sustain our business and operations; and our ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. Pan American cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and Pan American has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the duration and effect of local and world-wide inflationary pressures and the potential for economic recessions; fluctuations in silver, gold and base metal prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets, such as the Mexican peso ("MXN"), Peruvian sol ("PEN"), Argentine peso ("ARS"), Bolivian boliviano ("BOB"), Canadian dollar ("CAD"), Chilean peso ("CLP") and Brazilian real ("BRL") versus the United States dollar ("USD"); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom Pan American does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships with, and claims by, local communities and indigenous populations; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in the jurisdictions where we operate, including environmental, export and import laws and regulations; changes in national and local government, legislation, taxation, controls or regulations and political, legal or economic developments in Canada, the United States, Mexico, Peru, Argentina, Bolivia, Guatemala, Chile, Brazil or other countries where Pan American may carry on business, including legal restrictions relating to mining, risks relating to expropriation and risks relating to the constitutional court-mandated ILO 169 consultation process in Guatemala; unanticipated or excessive tax assessments or reassessments in our operating jurisdictions; diminishing quantities or grades of mineral reserves as properties are mined; increased competition in the mining industry for equipment and qualified personnel; and those factors identified under the caption "Risks Related to Pan American's Business" in Pan American's most recent form 40-F and Annual Information Form filed with the United States Securities and Exchange Commission and Canadian provincial securities regulatory authorities, respectively. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against attributing undue certainty or reliance on forward-looking statements or information. Forward-looking statements and information are designed to help readers understand management's current views of our near- and longer-term prospects and may not be appropriate for other purposes. The Company does not intend, nor does it assume any obligation, to update or revise forward-looking statements or information to reflect changes in assumptions or in circumstances or any other events affecting such statements or information, other than as required by applicable law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260811285271/en/ Contacts For more information contact:Siren FisekciVP, Investor Relations & Corporate CommunicationsPh: 604-806-3191Email: [email protected]

Pan American Silver (PAAS) came out with quarterly earnings of $0.73 per share, missing the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -13.10%. A quarter ago, it was expected that this silver mining company would post earnings of $1.06 per share when it actually produced earnings of $1.09, delivering a surprise of +2.83%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Pan American Silver, which belongs to the Zacks Mining - Silver industry, posted revenues of $1.12 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 3.36%. This compares to year-ago revenues of $811.9 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Pan American Silver shares have lost about 0% since the beginning of the year versus the S&P 500's gain of 12.9%. While Pan American Silver has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Pan American Silver was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.06 on $1.3 billion in revenues for the coming quarter and $4.11 on $5 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining - Silver is currently in the bottom 17% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the broader Zacks Basic Materials sector, Sigma Lithium Corporation (SGML), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 14. This company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +188.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Sigma Lithium Corporation's revenues are expected to be $54 million, up 219.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pan American Silver Corp. (PAAS) : Free Stock Analysis Report Sigma Lithium Corporation (SGML) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Pan American Silver Corp. PAAS is scheduled to report second-quarter 2026 results on Aug. 12, after market close. The Zacks Consensus Estimate for Pan American Silver’s second-quarter total sales is pegged at $1.16 billion, indicating a 43.2% rise from the year-ago quarter’s actual.The consensus mark for earnings has been moved down 22.2% in the past 60 days to 84 cents per share. This, however, suggests a 93.4% year-over-year upsurge from earnings of 43 cents. Image Source: Zacks Investment Research Pan American Silver’s earnings beat the Zacks Consensus Estimates in three of the trailing four quarters and came in line in one. The company has a trailing four-quarter earnings surprise of 7.9%, on average. The trend is shown in the chart below. Image Source: Zacks Investment Research Our proven model does not conclusively predict an earnings beat for Pan American Silver this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.Earnings ESP: PAAS has an Earnings ESP of 0.00%. You can uncover the best stocks before they are reported with our Earnings ESP Filter.Zacks Rank: The company currently has a Zacks Rank of 4 (Sell). You can see the complete list of today’s Zacks #1 Rank stocks here. Pan American Silver maintained a strong operational footing in the first quarter of 2026, delivering a solid performance. This offers an insight into its second-quarter performance.  Pan American Silver produced 6.4 million ounces of silver in the first quarter of 2026, reflecting strong contributions from the Juanicipio mine. The company produced 5 million ounces of silver in the first quarter of 2025.  La Colorada and Cerro Moro reported higher output due to higher grades. However, Huaron reported lower numbers due to lower silver grades. Production at Dolores was down following the cessation of mining operations in July 2024 and the site transitioning into its residual leaching phase. The Zacks Consensus Estimate for PAAS’s second-quarter 2026 silver production is 6.5 million ounces, indicating a 27.1% year-over-year rise.It produced 169.2 thousand ounces of gold in the first quarter of 2026. The figure marks a decrease from the 182.2 thousand ounces produced in the prior-year quarter. The production was impacted by the loss of Dolores' contribution. Production at the El Peñon mine also fell due to mine sequencing into lower-grade ore zones and a higher proportion of low-grade stockpile ore processed. The Zacks Consensus Estimate for PAAS’s second-quarter gold production is 176 thousand ounces, indicating a 1.1% year-over-year decline.  The year-over-year increase in silver output, along with higher prices, will likely translate to higher revenues in the quarter. Even though gold and silver prices have dropped since peaking in January 2026, they have remained supportive. The combination of higher prices is expected to have enhanced Pan American Silver’s top-line performance in the quarter. In the past year, PAAS shares have surged 64.6% compared with the industry's 79.4% growth. Image Source: Zacks Investment Research Endeavour Silver Corporation EXK reported adjusted earnings of 15 cents per share for the second quarter of 2026 against an adjusted loss of 3 cents incurred in the prior-year quarter. The bottom line met the Zacks Consensus Estimate.Endeavour Silver’s revenues skyrocketed 149.4% to $212 million from $85 million in the second quarter of 2025. The top line beat the Zacks Consensus Estimate of $201 million.First Majestic Silver Corp AG posted earnings per share of 21 cents for second-quarter 2026, which missed the Zacks Consensus Estimate of 25 cents. AG posted earnings of 4 cents per share in the year-ago quarter.First Majestic Silver’s revenues rose 57.2% year over year to $415 million in the quarter under review. Buenaventura Mining Company BVN reported second-quarter 2026 adjusted earnings per share of 94 cents, missing the Zacks Consensus Estimate of 98 cents. BVN posted earnings of 40 cents per share in the year-ago quarter.Buenaventura Mining’s revenues jumped 43.4% year over year to $529 million in the quarter under review. The top line missed the Zacks Consensus Estimate of $596 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pan American Silver Corp. (PAAS) : Free Stock Analysis Report Buenaventura Mining Company Inc. (BVN) : Free Stock Analysis Report Endeavour Silver Corporation (EXK) : Free Stock Analysis Report First Majestic Silver Corp. (AG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Analysts on Wall Street project that Pan American Silver (PAAS) will announce quarterly earnings of $0.84 per share in its forthcoming report, representing an increase of 95.4% year over year. Revenues are projected to reach $1.16 billion, increasing 43.2% from the same quarter last year. Over the last 30 days, there has been a downward revision of 6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe. Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock. While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights. Given this perspective, it's time to examine the average forecasts of specific Pan American Silver metrics that are routinely monitored and predicted by Wall Street analysts. Based on the collective assessment of analysts, 'Ounces Produce - Gold (Silver and Gold Production)' should arrive at 176 thousands of ounces. Compared to the current estimate, the company reported 179 thousands of ounces in the same quarter of the previous year. Analysts' assessment points toward 'Ounces Produce - Silver (Silver and Gold Production)' reaching 6476 thousands of ounces. The estimate is in contrast to the year-ago figure of 5094 thousands of ounces. The consensus estimate for 'Ounce Production - La Colorada Operation - Silver' stands at 1468 thousands of ounces. Compared to the current estimate, the company reported 1507 thousands of ounces in the same quarter of the previous year. The collective assessment of analysts points to an estimated 'Ounce Production - Huaron Operation - Silver' of 806 thousands of ounces. The estimate is in contrast to the year-ago figure of 844 thousands of ounces. Analysts predict that the 'Ounce Production - San Vicente Operation - Silver' will reach 694 thousands of ounces. Compared to the present estimate, the company reported 755 thousands of ounces in the same quarter last year. According to the collective judgment of analysts, 'Ounce Production - Dolores Operation - Silver' should come in at 109 thousands of ounces. The estimate is in contrast to the year-ago figure of 291 thousands of ounces. It is projected by analysts that the 'Ounce Production - Dolores Operation - Gold' will reach 5 thousands of ounces. The estimate is in contrast to the year-ago figure of 10 thousands of ounces. Analysts expect 'Ounce Production - Shahuindo Operation - Silver' to come in at 57 thousands of ounces. Compared to the present estimate, the company reported 60 thousands of ounces in the same quarter last year. The average prediction of analysts places 'Ounce Production - Shahuindo Operation - Gold' at 28 thousands of ounces. Compared to the current estimate, the company reported 34 thousands of ounces in the same quarter of the previous year. The consensus among analysts is that 'Ounce Production - Timmins Operation - Gold' will reach 27 thousands of ounces. The estimate is in contrast to the year-ago figure of 25 thousands of ounces. The combined assessment of analysts suggests that 'Average Realized Prices per ounce - Silver' will likely reach $73.70 . The estimate compares to the year-ago value of $32.91 . Analysts forecast 'Average Realized Prices per ounce - Gold' to reach $4632.88 . Compared to the current estimate, the company reported $3305.00 in the same quarter of the previous year. View all Key Company Metrics for Pan American Silver here>>> Shares of Pan American Silver have demonstrated returns of +8.9% over the past month compared to the Zacks S&P 500 composite's +2.3% change. With a Zacks Rank #4 (Sell), PAAS is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> . Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pan American Silver Corp. (PAAS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research