$PAAS

Pan American Silver (PAAS) reported its mineral reserves and resources as of June 30, 2026. P&P reserves include 511.1M oz of silver and 6.3M oz of gold. M&I resources total 1,126.7M oz of silver and 7.5M oz of gold. Inferred resources are 437.0M oz of silver and 7.2M oz of gold. The company replaced over 100% of silver extracted and added reserves from its 44% stake in Juanicipio. Exploration success at La Colorada, Jacobina, and Timmins contributed to the growth. The company completed 351,000

Cadillac Mines (TSX: CD) completed the acquisition of Pan American Silver's Larder property, issuing 15 million shares in exchange. Pan American now owns 6% of Cadillac's shares. The Larder property, contiguous to Cadillac's Kerr-Addison property, contains historical gold resources. Cadillac CEO Rick Howes welcomed Pan American as a strategic shareholder and plans to deploy drill rigs to the property.

Metals and mining stocks fell sharply as copper, gold, and silver prices dropped. Copper prices declined 5.3% after reports that the White House delayed copper tariffs. Freeport-McMoRan (FCX) fell 7%, Teck Resources (TECK) dropped 6%, and Southern Copper (SCCO) lost 6%. Gold and silver also saw significant declines, with gold down 1.6% and silver down 5.9%. The selloff follows a strong August rally for mining stocks.

Peter Schiff views the recent decline in gold and silver prices as a buying opportunity, citing higher bond yields and inflation expectations. Gold and silver prices fell, with silver experiencing its steepest single-day drop in over two months. Silver miners like Pan American Silver (PAAS) and Hecla Mining (HL) saw significant stock declines, while gold miners like Newmont (NEM) and Barrick Gold (B) also fell. Brent oil futures rose, and U.S. equities declined.

Federal Reserve Chair Kevin Warsh's hawkish remarks on inflation caused a sharp decline in precious metals mining stocks. First Majestic Silver (AG) led the drop, falling 5.09%, while other miners like AngloGold Ashanti (AU) and Barrick Mining (B) also saw significant decreases. Warsh's comments pushed up interest-rate expectations, increasing the opportunity cost of holding non-yielding assets like gold and silver.

Pan American Silver (PAAS) began a six-year, $1.9B project to access a large silver deposit in Mexico, with first meaningful metal expected in 2032. The project aims to produce 15.8M oz/year of silver at peak. Silver prices are up 9% since last Wednesday, trading at $68.80. The company expects to fund the project internally, with no financing or permitting gaps for the initial phase.

Silver prices surged 20% in August, reaching $70/oz, driven by US Treasury bond buybacks. Miners like Hecla Mining (HL) and Wheaton Precious Metals (WPM) saw gains of 47% and 44%, respectively. Analysts' year-end targets range from $67 to $118/oz, reflecting uncertainty about future price movements.

Pan American Silver (PAAS) reports a $51.12 price-cost spread for silver, with spot silver at $68.92/oz and Q2 AISC at $17.80/oz. Q2 revenue was $1.124bn, with $344m in FCF. PAAS stock rose 2.5% on Aug. 20, closing at $51.56. Analysts have a consensus Buy rating and C$92.00 target. The company repurchased 4.4m shares in Q2.

Heraeus analysts said recent US data (CPI 3.4%, PPI 4.7%) and weaker jobs reduced the 2-year Treasury yield and lowered the implied chance of a September rate hike, supporting gold and silver. They cited Barrick’s gold output (796 koz in Q2, +11% QoQ) and Pan American Silver’s silver production (6.47 moz in Q2, +27% YoY). Spot gold was about $4,425/oz and spot silver about $66.39/oz.

Pan American Silver (PAAS) reported Q2 2026 adjusted EPS of 73 cents, up 69.8% YoY but below the Zacks Consensus of 84 cents. Revenue rose 38.4% YoY to $1.12B, missing $1.16B. Silver and gold prices increased, with silver production up 27% YoY. Mine-operating earnings were $457M. The company reaffirmed its 2026 outlook and returned $300M to shareholders.