Published on 9 May 2024 on Zacks via Yahoo Finance
Pan American Silver (PAAS) Q1 Earnings & Sales Beat Estimates
Pan American Silver Corp. PAAS reported adjusted earnings per share of 1 cent for first-quarter 2024 against the Zacks Consensus Estimate of a loss of 6 cents per share. The bottom line marked a 90% plunge from adjusted earnings per share of 10 cents in the year-ago quarter mainly due to higher production costs and royalty charges.Including one-time items, Pan American Silver reported a loss of 8 cents per share, marking a sharp decline from the year-ago quarter’s earnings of 8 cents per share.Pan American Silver’s revenues surged 54% year over year to $601 million. This surge was primarily fueled by a higher volume of metal sold, attributable to the contribution of newly acquired mines (Jacobina, El Peñon, Minera Florida, and Cerro Moro), obtained through the company's March 2023 acquisition of Yamana Gold Inc. The uptick in gold prices also aided revenue growth.The top line surpassed the Zacks Consensus Estimate of $597 million. The average realized silver price dipped 0.6% year over year to $22.60 per ounce. The average realized gold price was up 9.7% to $2,078 per ounce.
Pan American Silver Corp. Price, Consensus and EPS Surprise
Pan American Silver Corp. price-consensus-eps-surprise-chart | Pan American Silver Corp. Quote