Q3 EPS Forecast for Pan American Silver Lowered by Analyst

Key Points

• National Bank Financial lowered Pan American Silver’s Q3 2026 EPS forecast to $0.82 from $0.87, while projecting full-year 2026 EPS of $3.81 and FY2027 EPS of $4.31.
• Analyst sentiment remains generally positive, with seven Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $67.71.
• Pan American Silver recently missed quarterly earnings and revenue estimates, reporting $0.73 EPS versus $0.84 expected and $1.12 billion in revenue versus $1.16 billion forecast, despite 38.4% year-over-year revenue growth. The company maintains a 1.6% dividend yield, and institutional investors own 55.43% of shares.

Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS - Stock analysts at National Bank Financial lowered their Q3 2026 earnings per share estimates for shares of Pan American Silver in a research note issued to investors on Sunday, September 20th. National Bank Financial analyst D. Demarco now forecasts that the basic materials company will post earnings per share of $0.82 for the quarter, down from their prior forecast of $0.87. The consensus estimate for Pan American Silver's current full-year earnings is $3.81 per share. National Bank Financial also issued estimates for Pan American Silver's Q1 2027 earnings at $1.06 EPS, Q2 2027 earnings at $1.08 EPS, Q3 2027 earnings at $1.08 EPS, Q4 2027 earnings at $1.08 EPS, FY2027 earnings at $4.31 EPS, Q2 2028 earnings at $1.65 EPS and FY2028 earnings at $6.65 EPS.

Several other analysts have also issued reports on the stock. Weiss Ratings lowered shares of Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Zacks Research raised Pan American Silver from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. Wall Street Zen downgraded Pan American Silver from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Bank of America reduced their price objective on Pan American Silver from $77.00 to $69.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Finally, Jefferies Financial Group lowered their target price on Pan American Silver from $54.00 to $53.00 and set a "hold" rating for the company in a research note on Monday, July 6th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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 price-to-earnings ratio of 13.94, a P/E/G ratio of 4.50 and a beta of 0.77. The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11. Pan American Silver has a twelve month low of $33.08 and a twelve month high of $69.99. The company has a 50-day simple moving average of $48.99 and a 200 day simple moving average of $50.82.

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

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Monday, August 24th were paid a C$0.18 dividend. This is a positive change 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 payout ratio is presently 22.36%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Pan American Silver in the second quarter valued at approximately $375,948,000. Norges Bank bought a new stake in shares of Pan American Silver in the 4th quarter valued at $303,611,000. Capital International Investors bought a new stake in shares of Pan American Silver in the 4th quarter valued at $215,484,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Pan American Silver during the second quarter worth $145,312,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Pan American Silver during the second quarter worth $138,282,000. 55.43% of the stock is owned by institutional investors.

More Pan American Silver News

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

Pan American Silver Company Profile

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.

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