Pan American Silver stock
PAASNYSEPan American Silver Corp., Basic MaterialsISIN CA6979001089
68Score 68 out of 100, Neutral
Price and trend
40 / 100
Price history
+4.7% in one yearThe chart shows daily closes over 20 years, adjusted for stock splits and without dividends. Click into the chart to set a price alert at that price.
Below the 200-day line: the price is 23% below it.
Since July 2026 the 50-day line has been below the 200-day line; the trend has turned down.
Normal: the price is neither overheated nor sold off (RSI 45).
The price is 43% below its 52-week high. Largest decline in 20 years: 87% (April 2011 to January 2016).
Chart figures for advanced users
- SMA 50$45.24
- Average price of the last 50 trading days, shows the short-term trend.
- SMA 200$50.99
- Average price of the last 200 trading days, shows the long-term trend.
- RSI (14)45
- Relative strength over the last 14 days on a scale from 0 to 100. Above 70 the price counts as overheated, below 30 as sharply fallen.
- MACDabove the signal line
- Compares a fast and a slow price average. Above its signal line momentum is rising, below it momentum is fading.
- Support$36.48
- The lowest closing price of the last twelve months.
- Resistance$68.70
- The highest closing price of the last twelve months.
Snapshot
Computed from the data by fixed rules, no AI
- Pan American Silver Corp. belongs to the Gold industry (Canada) and, with a market value of $16.28B, is number 14 of 53 companies in its industry on MEQIRI.
- In fiscal 2025 it reported revenue of $3.68B (up 30.6% year on year) and earnings of $995.12M (up 792.5%).
- For fiscal 2026, analysts expect on average revenue of $4.67B (up 26.8%) and adjusted earnings per share of $3.29 (up 34.9%).
Show more
- MEQIRI Score 68 out of 100 (Neutral): rank 101 of 467 in Basic Materials, median 58.
- The P/E is 10.4 (Gold median 12.2, own median of recent years 40.6).
- Our model puts fair value at $14.48, with the price 172% above it.
In plain words
The numbers on this page in plain words, written by an AI
Strengths
- Earnings per share growingUp 25.2% a year since 2020.Growth 100
- More cash than debtCash $1.7B, financial debt $844M.Stability 80
- Reliable dividendNo dividend cut for 10 years.Capital allocation 58
Weaknesses
- DilutionShare count up 82% since 2020.Capital allocation 58
- Above fair valuePrice 172% above the fair value of $14.48.Valuation 47
- Margin may fall backOperating margin 32.3%, average of the prior years 15.7%, which ranged from −17.5% to 19.7%. After peaks like this, the margin was more than a quarter lower two years later in 44 of 100 cases, against 24 of 100 for other companies with high margins.
Its standout strengths are growth and fundamentals, while technical analysis and momentum hold the score back.
Daily figure as of 12 Nov 2026
How the score is calculatedScore overview
Fundamentals are strong, with stable profits and strong cash generation.
Score history
The full history of up to 20 years comes with MEQIRI Pro.
See plansCrash risk high
How well MEQIRI warnsOne of the 30% with the highest crash risk among stocks ranked 101 to 1,000.
From 2016 to 2025, 23 in 100 such stocks fell 30% or more within a year, against a group average of 15 in 100.
What drives the risk
- price far below its 52-week high
- high price swings
- high growth grade (crashed more often in the backtest)
What lowers it
- solid fundamentals
Valuation
Valuation signal
Significantly overvaluedIn our model the price counts as cheap below $10.34 and expensive above $24.13 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $19.65 (cash-flow model) and $9.31 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is above both.
Calculated with a cost of equity of 8.8%. At 9.8% the fair value would be $12.78, at 7.8% it would be $17.02.
Valuation metrics
Half from the cash-flow model, half from earnings times the industry P/E (12.2).
Calculate with your own assumptionsCompany performance
This shows several years of history with an automatic assessment.
Revenue
In the twelve months to 30 Sep 2026, revenue rose 36.8% on the twelve months before. Revenue has grown strongly since 2006, at around 15% per year.
Margins
- Gross margin
- Operating margin
- Net margin
In fiscal 2025: gross 38%, operating 32%, net 27%. Last 12 months: net 35%.
Debt & balance sheet
latest quarterThe balance sheet is solid, with low debt and comfortable interest coverage.
Earnings
- Next earnings
- 17 Feb 2027in 97 days
- Last reported
- 4 Nov 2026EPS reported $0.69 (expected $0.66)above expectations
Analyst estimates
Analysts have cut their 2026 earnings estimate by 4.7% since 15 Oct 2026. Falling estimates often precede bad news.
- Earnings per share
- $3.29−4.7%
- Revenue
- $4.67B+1.0%
- Earnings per share
- $4.39−4.2%
- Revenue
- $5.27B+2.9%
MEQIRI has stored the estimates since 15 Oct 2026. Until 30 days are available, the card shows the change since that day. Mean estimate according to Financial Modeling Prep. No price target and no recommendation.
Company outlook lowered
Share price after the results: −9.5%Full-year outlook formally reaffirmed, but 2026 gold production is now at the low end of the 700,000 to 750,000 ounce range and Q3 is expected 3,000 to 6,000 ounces below the low end of 178,500 to 192,000.
“We have also revised our third quarter gold outlook to approximately 3,000 to 6,000 ounces below the low end of the quarterly guidance range of 178,500 to 192,000 ounces of gold.”The outlook is not part of the score and not a recommendation to buy or sell.
From the earnings call on 13 Aug 2026 (fiscal Q2 2026), read by AI.
Insiders
Open-market purchases and sales by executives, board members and major holders
No open-market purchases or sales in the last 6 months.
Source: Form 4 filings with the US Securities and Exchange Commission. Grants, option exercises, gifts and tax withholdings are hidden. Not a recommendation to buy.
What happened at Pan American Silver
The key events of the last six months from our own data. A click takes you to the matching card.
Sector comparison
467 rated companies in Basic Materials
- This company
- 68
- Sector median
- 58
Categories against the sector median
The median is the middle value: half of the companies in the sector lie above it, half below. Categories with too few comparable companies are left out.
Competitors in Gold
The next larger and next smaller companies by market value
- Kinross GoldKGC $25.29B71
- Royal GoldRGLD $22.82B77
- Shandong Gold Mining600547.SS $18.42B49
- Lundin GoldLUG.TO $16.39B72
- Coeur MiningCDE $15.55B57
- Zhongjin Gold Corp.,Ltd600489.SS $15.17B65
- Equinox GoldEQX $12.61B46
- Alamos GoldAGI $12.56B67
ETFs that hold Pan American Silver
Held by 56 ETFs on Xetra. Shown per index: the ETF with the largest weight.
| ETF | Weight | Cost | Fund size |
|---|---|---|---|
| Global X Silver Miners UCITS ETF USD AccSLVR | 12.51% | 0.65% | €1.1B |
| Amundi Gold Miners UCITS ETF USD DistributingCD91 | 2.48% | 0.65% | €770.49M |
| iShares Gold Producers UCITS ETF USD (Acc)IS0E | 2.08% | 0.55% | €3.87B |
Show 5 more
| L&G Gold Mining UCITS ETFETLX | 1.90% | 0.55% | €762.65M |
| VanEck S&P Global Mining UCITS ETF A USDWMIN | 0.87% | 0.50% | €1.98B |
| Xtrackers MSCI Canada Screened UCITS ETF 1CD5BH | 0.69% | 0.35% | €1.2B |
| Xtrackers MSCI World Materials UCITS ETF 1CXDWM | 0.60% | 0.25% | €715.95M |
| iShares MSCI Canada UCITS ETFSXR2 | 0.55% | 0.48% | €2.15B |
Holdings as reported by the funds via FMP, excluding swap ETFs (their holdings are only collateral).
Data status and sources
- Score
- Daily value of 12 Nov 2026, recalculated nightly
- Price
- Closing price of 11 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 15 Oct 2026)
- Valuation signal Overvalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.