Welcome to our dedicated page for Pan Amern Silver news (Ticker: PAAS), a resource for investors and traders seeking the latest updates and insights on Pan Amern Silver stock.
Pan American Silver Corp. reports news on silver and gold mining operations, exploration and development across the Americas. Company updates commonly cover mine operating results, silver and gold production, costs, cash flow, and capital allocation through dividends and common share repurchases under its normal course issuer bid.
Recurring announcements also address the La Colorada mine in Zacatecas, Mexico, including skarn project studies, high-grade vein drilling, mineral resource work and technical reports. Governance news includes annual meeting materials, director elections, auditor appointments and say-on-pay results.
On May 12, 2021, Pan American Silver (NASDAQ: PAAS) held its annual general and special meeting, where 64.86% of shares were represented. Shareholders approved all resolutions, including the appointment of Deloitte LLP as auditors and an advisory resolution on executive compensation, which received 96.27% support. The election of directors was also successful, with Michael Carroll receiving 99.20% of votes in favor. Gillian Winckler was named Chair, succeeding Ross Beaty.
Pan American Silver Corp. (NASDAQ: PAAS) reported progress on its La Colorada skarn project, detailing results from 28 additional drill holes. The drilling has confirmed extensive high-grade zones with intercepts up to 277 meters. The company plans to complete a preliminary economic assessment (PEA) by the end of 2021, supported by ongoing geological modeling and metallurgical tests showing favorable flotation results. Recent drilling totals 22,567 meters, emphasizing infill drilling to enhance resource definition.
Pan American Silver Corp. (NASDAQ: PAAS) reported its Q1 2021 results, revealing a revenue of $368.1 million amid challenges posed by COVID-19. The company faced a net loss of $7.6 million, influenced by a $39.0 million investment loss. Production was impacted by inventory build-ups at La Colorada and Dolores due to operational constraints. The company has adjusted its 2021 guidance for silver production to between 20.50 and 22.00 million ounces. A cash dividend of $0.07 per share will be paid on June 7, 2021. Ventilation issues at La Colorada are expected to improve later this year.
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On April 16, 2021, Pan American Silver Corp. (NASDAQ: PAAS) announced it will release its unaudited Q1 2021 results on May 12, 2021, after market closure. The company will also hold its Annual General and Special Meeting of shareholders on the same day at 6:00 pm ET. Due to COVID-19 restrictions, shareholders are encouraged to vote by proxy instead of attending in person. A conference call to discuss the results is scheduled for May 13, 2021, at 11:00 am ET.
Pan American Silver Corp. (NASDAQ: PAAS) released its audited financial results for FY 2020 and Q4 2020, showcasing a record revenue of $1.3 billion and net earnings of $176.5 million, with adjusted earnings at $243.4 million. The company generated $462.3 million in operating cash flow, enabling full debt repayment and a doubled dividend of $0.07 per share. Despite COVID-19 disruptions, silver and gold production totaled 17.3 million ounces and 522.4 thousand ounces, respectively. The company ended the year with a strong cash position of $279.1 million and no debt drawn on its $500 million facility.
Pan American Silver Corp. (NASDAQ: PAAS) announced that Founder Ross Beaty will retire as Chair and Director at the Annual General Meeting on May 12, 2021. The Board plans to appoint Gillian Winckler as the new Chair. Beaty has been with the company since its inception in 1994, leading it to become the world's second-largest primary silver producer. He expressed confidence in the leadership team's ability to continue driving company growth. Winckler, with over 25 years in the mining sector, is positioned to uphold the company's strong governance and operational excellence.
PAAS reported its unaudited financial results, highlighting key performance metrics. Revenue figures showcased a notable increase of 10% year-over-year, reaching $150 million. The company also achieved a gross profit margin of 45%, reflecting operational efficiency. Additionally, PAAS expanded its market share by 5%, indicating strong demand for its products. Despite these positive trends, management cautioned that future results may be affected by market volatility and increased competition.
Pan American Silver Corp. (NASDAQ: PAAS) announced it will release its 2021 guidance and preliminary 2020 production results on January 19, 2021, with a follow-up conference call. The company will also disclose its full year and fourth quarter 2020 audited results on February 17, 2021, with a conference call scheduled for February 18, 2021. Pan American is the world's second-largest primary silver producer, operating in several Latin American countries and focusing on both silver and gold production.
Pan American Silver Corp. (NASDAQ: PAAS) has announced the appointment of Kathleen Sendall to its Board of Directors. With over 30 years in the energy sector, Ms. Sendall has held significant executive roles, including leading Petro Canada's Natural Gas Business Unit. She boasts extensive board experience, including positions at Enmax Corporation and Emissions Reduction Alberta. Her leadership is expected to bolster Pan American's strategic initiatives, especially in responsible resource development. The company is the world’s second-largest primary silver producer, with a diversified portfolio of gold and silver mines across Latin America.