Pan American Silver Corp. (PAAS) - Stock Analysis
Last updated: Jan 14, 2026
Research Idea
Research content for general circulation. Not individualized advice. Methodology & Disclosures
Pan American Silver demonstrates compelling short-term return potential with record Q3 free cash flow and rising profitability, elevated silver price environment near all-time highs, higher production guidance, recent strategic acquisitions enhancing portfolio, and strong technical price momentum including a 22% surge, signaling continued upside.
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AI Analyst Overview
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Valuation Metrics
Fundamental Analysis
Key Financial Insights: ⢠Margin expansion ⢠Strong liquidity ⢠Elevated valuation Pan American Silver's Q3 2025 results show materially stronger profitability and liquidityâhigher EBITDA and net margins, hefty cash and reduced leverageâtempered by elevated inventories, low historical ROIC and a richer EV/EBITDA multiple.
Price Behavior
Key Price Behavior Insights: ⢠Steady ascent ⢠New support ⢠Low pullbacks Support Level: $50 and $53â$54 Resistance Level: ~$56 PAAS has climbed steadily over the last month from about $49 to near $56, clearing the $53â$54 area (now potential support) with limited pullbacks but leaving room for short-term profit-taking or consolidation.
Sentiment & News
Key News Insights: ⢠Major acquisition ⢠Rising production ⢠Analyst upgrades Pan American Silver surged ~163% over the past year on a major acquisition, higher production and record cash flow, with strong analyst upgrades, growing institutional interest and bullish options activity signaling continued investor momentum.
AI Summary
PAAS has shifted from a pure commodityâlevered silver miner into a cashâgenerative, portfolioâoptimization company where Juanicipio contributions, record free cash flow and targeted asset reâengineering justify a reâratingâprovided management sustains operational improvements and converts development assets (La Colorada) into predictable cash. Investors should focus on nearâterm catalysts (consistent Juanicipio distributions, La Colorada PEA outcomes, and resolution of Cerro Moro/El PeĂąon operational issues) because failure on any of these execution points or a silver price pullback would rapidly reverse the rerating.
Description
Pan American Silver Corp. operates exploration, mine development, extraction, processing, refining and reclamation activities for silver, gold, zinc, lead and copper across Canada, Mexico, Peru, Argentina and Bolivia. The company holds interests in a portfolio of operating and development mines â including assets such as La Colorada and Dolores â and was incorporated in 1979 with headquarters in Vancouver, Canada.
Idea History
| Date | Close | Ticker | Company | Summary | Status | P/L |
|---|---|---|---|---|---|---|
| Dec 24 | Dec 31 | PAAS | Pan American Silver Corp. | Pan American Silver demonstrates compelling short-term return potential with record Q3 free cash flow and rising profitability, elevated silver price environment near all-time highs, higher production guidance, recent strategic acquisitions enhancing portfolio, and strong technical price momentum including a 22% surge, signaling continued upside. | Closed | -3.8% |
| Dec 1 | Dec 8 | PAAS | Pan American Silver Corp. | Pan American Silver delivers record free cash flow and liquidity, with raised 2025 silver production guidance and strong sector momentum. The stock surged ~29% over 21 days amid overbought signals, supported by operational excellence and favorable silver prices, making it attractive with some caution for timing. | Closed | -5.5% |