National Bank Financial Estimates PAAS Q2 Earnings

Key Points

• National Bank Financial raised its Q2 2026 EPS estimate for Pan American Silver to $1.33 from $1.19, and also boosted longer-term earnings forecasts across 2026–2030, signaling improving expectations for the miner.
• Pan American Silver recently beat earnings estimates for Q1, reporting $1.09 EPS versus $1.06 expected, though revenue of $1.15 billion came in below the $1.25 billion consensus.
• Analyst sentiment remains upbeat, with most brokerages rating the stock a Buy or Outperform and a consensus price target of about $68, while the shares recently traded around $61.13.

Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS - Stock analysts at National Bank Financial upped their Q2 2026 earnings per share estimates for shares of Pan American Silver in a note issued to investors on Wednesday, May 6th. National Bank Financial analyst D. Demarco now expects that the basic materials company will post earnings per share of $1.33 for the quarter, up from their prior estimate of $1.19. The consensus estimate for Pan American Silver's current full-year earnings is $4.50 per share. National Bank Financial also issued estimates for Pan American Silver's Q3 2026 earnings at $1.32 EPS, Q4 2026 earnings at $1.26 EPS, FY2026 earnings at $5.00 EPS, Q1 2027 earnings at $1.30 EPS, Q2 2027 earnings at $1.33 EPS, Q3 2027 earnings at $2.09 EPS, Q4 2027 earnings at $2.12 EPS, FY2027 earnings at $6.85 EPS, Q1 2028 earnings at $1.66 EPS, FY2028 earnings at $6.66 EPS, FY2029 earnings at $5.66 EPS and FY2030 earnings at $4.65 EPS.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.03. The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.Pan American Silver's revenue for the quarter was up 49.3% compared to the same quarter last year. During the same period last year, the firm posted $0.42 EPS.

A number of other brokerages have also recently weighed in on PAAS. TD Cowen raised Pan American Silver from a "hold" rating to a "buy" rating and raised their price objective for the company from $67.00 to $72.00 in a report on Tuesday. Royal Bank Of Canada restated an "outperform" rating and set a $75.00 price target on shares of Pan American Silver in a research report on Tuesday, April 28th. Weiss Ratings restated a "buy (b)" rating on shares of Pan American Silver in a research report on Tuesday. Jefferies Financial Group reduced their price target on Pan American Silver from $58.00 to $54.00 and set a "hold" rating on the stock in a research report on Wednesday, January 21st. Finally, Scotiabank raised their price target on Pan American Silver from $47.00 to $64.00 and gave the stock an "outperform" rating in a research report on Monday, January 26th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Pan American Silver Stock Performance

Shares of NYSE PAAS opened at $61.13 on Friday. The stock has a market cap of $25.76 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 0.52 and a beta of 0.65. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. Pan American Silver has a 1-year low of $22.17 and a 1-year high of $69.99. The stock's 50-day moving average is $56.09 and its 200 day moving average is $52.57.

Pan American Silver Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, May 19th. Pan American Silver's dividend payout ratio (DPR) is currently 23.15%.

Institutional Investors Weigh In On Pan American Silver

A number of large investors have recently made changes to their positions in the business. Entropy Technologies LP bought a new stake in shares of Pan American Silver in the 1st quarter worth approximately $9,282,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Pan American Silver in the 1st quarter worth approximately $6,182,000. Renaissance Technologies LLC bought a new stake in shares of Pan American Silver in the 1st quarter worth approximately $71,141,000. Gabelli Funds LLC grew its position in shares of Pan American Silver by 4.3% in the 1st quarter. Gabelli Funds LLC now owns 662,100 shares of the basic materials company's stock worth $36,171,000 after buying an additional 27,400 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its position in shares of Pan American Silver by 9.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 40,520 shares of the basic materials company's stock worth $2,214,000 after buying an additional 3,580 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors.

Key Pan American Silver News

Here are the key news stories impacting Pan American Silver this week:

• Positive Sentiment: Scotiabank kept an Outperform rating on Pan American Silver NYSE: PAAS and raised several earnings forecasts, reinforcing a bullish outlook. Pan American Silver analyst coverage
• Positive Sentiment: National Bank Financial lifted estimates across multiple quarters and years, including materially higher FY2027, FY2028 and FY2030 EPS projections for Pan American Silver. Pan American Silver analyst coverage
• Positive Sentiment: Edison Investment Research increased FY2026 and FY2027 earnings estimates, adding to the broader sentiment that profitability could improve more than previously expected. Pan American Silver analyst coverage
• Negative Sentiment: Recent commentary also pointed to pressure from softer silver prices and operational-risk headlines in Mexico, which can weigh on miner sentiment even when analyst outlooks improve. Silver price and Mexico risk article

About Pan American Silver

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.

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