Pan Amern Silver Corp Stock Price, News & Analysis

Pan American Silver Corp. (NYSE: PAAS) is set to release its unaudited results for Q1 2023 after market close on May 10, 2023. The company will conduct its Annual General and Special Meeting of shareholders at 6:00 PM ET on the same day, located at 1200 Waterfront Centre, Vancouver, British Columbia. A conference call to discuss the results will take place on May 11, 2023, at 11:00 AM ET. Interested parties can join via dial-in numbers provided for both toll-free and international access, or through a webcast with presentation slides available for three months thereafter. For further details regarding the Shareholders Meeting and conference call, visit the company’s investor relations webpage.

Pan American Silver Corp. (NASDAQ: PAAS) will transfer its listing from the NASDAQ to the New York Stock Exchange (NYSE), starting April 18, 2023, under the same ticker symbol 'PAAS'. The shares will continue to trade on NASDAQ until market close on April 17, 2023. This move follows Pan American's significant transaction with Yamana Gold Inc., enhancing its silver and gold operations in Latin America. CEO Michael Steinmann expressed that the NYSE listing will provide a robust platform for capital market visibility. The company operates mines in several countries, including Canada, Mexico, and Peru, and holds a strong reputation for sustainability and financial management.

Pan American Silver Corp. has successfully completed the acquisition of all common shares of Yamana Gold Inc. This move follows Yamana's sale of Canadian assets to Agnico Eagle Mines Limited. The acquisition significantly enhances Pan American's operational scale in Latin America, increasing production capacity for silver and gold. Pan American gains four producing mines and a development project from this deal. Post-acquisition, existing Pan American shareholders hold approximately 58% of the company. Furthermore, Pan American has amended its credit facility, raising it to $750 million, to support this acquisition.

Pan American Silver Corp. (NASDAQ: PAAS) reported its Q4 2022 and FY 2022 financial results, reflecting challenges like inflation and production cost increases. Q4 revenue was $375.5 million, down from $422.2 million the previous year, impacted by inventory build-up. The company faced a net loss of $172.1 million, or $0.82 loss per share, while total revenue for FY 2022 was $1.5 billion. Cash flow from operations was negative at $112.1 million in Q4. Notably, the acquisition of Yamana Gold was approved, expected to diversify and strengthen Pan American’s portfolio. A $0.10 dividend per share was declared for March 2023.

Pan American Silver Corp. (NASDAQ: PAAS) announced that shareholders overwhelmingly approved the issuance of up to 156,923,287 common shares as part of its arrangement with Agnico Eagle Mines Limited and Yamana Gold Inc. At a special meeting, 97.28% of votes supported the Share Issuance Resolution, with only 2.72% against. This strategic acquisition aims to enhance Pan American's position in silver and gold production in Latin America. The Arrangement is expected to close within Q1 2023, pending court and regulatory approvals.

Pan American Silver Corp. (NASDAQ: PAAS) announced its preliminary production results for Q4 2022 and FY 2022. Silver production totaled 18.5 million ounces, aligning with revised guidance. Gold production achieved 552.5 thousand ounces, within original guidance. The company reported zinc production at approximately 38 thousand tonnes, lead at 18 thousand tonnes, and copper at 5 thousand tonnes, with slight variances from guidance. The results reflect strong performance, primarily at Shahuindo and La Arena. Audited financial results will be released on February 22, 2023, alongside 2023 guidance following Yamana transaction completion.

On December 28, 2022, Pan American Silver Corp. (NASDAQ: PAAS) announced the filing of a management information circular for a special meeting regarding its proposed acquisition of Yamana Gold Inc. and the subsequent sale of Yamana's Canadian assets to Agnico Eagle Mines Limited. The meeting is set for January 31, 2023, where shareholders will vote on issuing 156,923,287 shares to Yamana's shareholders. This acquisition is projected to enhance Pan American's scale, liquidity, and production capabilities in Latin America, with expected annual silver production increase of 9.5Moz and significant cost efficiencies.

Pan American Silver Corp. (NASDAQ: PAAS) reported Q3 2022 results, highlighting significant challenges from softening precious metal prices and inflationary costs. Silver production reached 4.5 million ounces, while gold production was 128.8 thousand ounces, generating revenue of $338.9 million, down from $460.3 million year-over-year. The company faced a net loss of $71.2 million, affected by inventory adjustments and investment losses. Management revised 2022 silver production estimates down to 18.0-18.5 million ounces. A proposed acquisition of Yamana Gold aims to boost silver and gold production significantly.

On November 8, 2022, Pan American Silver and Agnico Eagle Mines announced the effectiveness of their arrangement agreement with Yamana Gold, following the termination of Gold Fields' agreement with Yamana. This agreement allows Pan American to contribute $150 million towards a $300 million termination fee that Yamana owes to Gold Fields. As a result, a previously scheduled special meeting of Yamana shareholders is cancelled. Both companies continue to enhance their operational foothold in the mining sector, focusing on silver and gold production.