Scotiabank Expects Stronger Earnings for Pan American Silver

Key Points

• Scotiabank raised its Q4 2026 EPS estimate for Pan American Silver to $0.67 from $0.65 and kept an Outperform rating on the stock.
• The firm also lifted several longer-term forecasts, including earnings estimates for FY2028, FY2029, and FY2030, signaling confidence in the company’s future earnings growth.
• Despite the upbeat revisions, analyst views remain mixed overall: Pan American Silver still has a consensus Moderate Buy rating and an average price target of $70.43, while other firms have recently cut or downgraded their calls.

Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS - Research analysts at Scotiabank increased their Q4 2026 earnings per share (EPS) estimates for Pan American Silver in a note issued to investors on Tuesday, July 14th. Scotiabank analyst O. Habib now anticipates that the basic materials company will post earnings of $0.67 per share for the quarter, up from their previous forecast of $0.65. Scotiabank currently has a "Outperform" rating on the stock. The consensus estimate for Pan American Silver's current full-year earnings is $4.31 per share. Scotiabank also issued estimates for Pan American Silver's Q3 2027 earnings at $0.56 EPS, Q1 2028 earnings at $0.60 EPS, Q2 2028 earnings at $0.66 EPS, FY2028 earnings at $2.44 EPS, FY2029 earnings at $2.42 EPS and FY2030 earnings at $1.95 EPS.

PAAS has been the subject of a number of other reports. Jefferies Financial Group reduced their price target on shares of 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. Weiss Ratings restated a "buy (b)" rating on shares of Pan American Silver in a research report on Tuesday, May 12th. Wall Street Zen cut shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 12th. Zacks Research downgraded shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 22nd. Finally, TD Cowen upgraded shares of Pan American Silver from a "hold" rating to a "buy" rating and boosted their target price for the company from $67.00 to $72.00 in a research note on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Pan American Silver presently has an average rating of "Moderate Buy" and an average price target of $70.43.

Pan American Silver Price Performance

Shares of NYSE:PAAS opened at $41.98 on Friday. Pan American Silver has a fifty-two week low of $26.76 and a fifty-two week high of $69.99. The business has a 50-day simple moving average of $50.16 and a two-hundred day simple moving average of $54.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84. The firm has a market cap of $17.51 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 3.78 and a beta of 0.72.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.03. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the company posted $0.42 earnings per share. The company's quarterly revenue was up 49.3% on a year-over-year basis.

Institutional Trading of Pan American Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAAS. Vanguard Group Inc. grew its position in shares of Pan American Silver by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company's stock valued at $905,513,000 after acquiring an additional 274,168 shares during the period. Invesco Ltd. lifted its position in Pan American Silver by 9.8% during the third quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company's stock valued at $383,365,000 after purchasing an additional 882,135 shares in the last quarter. FIL Ltd lifted its position in Pan American Silver by 154.7% during the fourth quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company's stock valued at $378,872,000 after purchasing an additional 4,438,478 shares in the last quarter. Norges Bank bought a new stake in Pan American Silver during the fourth quarter valued at about $303,611,000. Finally, Capital International Investors bought a new stake in Pan American Silver during the fourth quarter valued at about $215,484,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.7%. Pan American Silver's dividend payout ratio (DPR) is presently 23.15%.

Trending Headlines about Pan American Silver

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

• Positive Sentiment: Scotiabank raised several longer-term earnings forecasts for Pan American Silver, including FY2028, FY2029, and FY2030, and maintained an Outperform rating, which signals confidence in the company’s future earnings power. Pan American Silver stock page
• Positive Sentiment: Scotiabank also nudged higher its estimates for several specific future quarters, including Q4 2026, Q3 2027, Q1 2028, Q2 2028, suggesting improving expectations for earnings growth over time. Pan American Silver stock page
• Neutral Sentiment: These analyst changes still leave the company near a consensus full-year earnings estimate of $4.31 per share, so the market may view the revisions as incremental rather than transformative. Pan American Silver stock page
• Negative Sentiment: National Bank Financial cut earnings estimates for several periods, including FY2026, FY2027, and multiple 2027 quarters, which can weigh on sentiment by implying lower near-term profitability than previously expected. Pan American Silver stock page
• Negative Sentiment: The sharper reductions from National Bank Financial were especially notable for Q2 2027 and Q4 2027, reinforcing concerns that earnings momentum may be weaker in the nearer-term outlook. Pan American Silver stock page

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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