Pan American Silver

PAAS

Silver · Basic Materials

Also trades as: PAAS.TO · 0R07.L

Price

$53.07

+1.15 (+2.21%)

Market Cap

$22.36B

Exchange

New York Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Exceptional

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Strong

Dividends

Good

Track this stock — start free trial

Share count rising — dilution

+81.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 210.4M (2021) → 381.6M (2025)

Winston Score History

The full picture

Pan American Silver Corp. is one of the largest silver mining companies in the world. It digs silver, gold, zinc, lead, and copper out of the ground at mines across North and South America. The company sells these metals to refiners, smelters, and industrial buyers who use them in electronics, solar panels, jewelry, and other products.

Pan American makes money by selling the metals it mines, so its revenue rises and falls with commodity prices. It operates mines in Mexico, Peru, Bolivia, Argentina, Guatemala, Canada, and Chile, making it one of the most geographically diversified silver producers globally. The company's large reserve base and multi-country footprint give it some protection against shutdowns at any single mine. The biggest risk it faces is a sustained drop in silver or gold prices, which would directly squeeze profits since the company has limited control over what its metals sell for.

Politician Trades

1 trades / 12mo

0 Congressional buys and 1 sell on PAAS in the last 12 months.

Unlock the full Smart Money Map — every trade plotted on the price chart with politicians, amounts and returns since each trade. Founder's Deal is $57/mo locked for life.

Unlock politician trades

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+34.9% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+34.6% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

0.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$3.6B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Pan American Silver grew revenue 35% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

39.3%

Modest — 39.3% gross margin

Profit after running costs

Operating Margin

37.1%

Excellent — 37.1% operating margin

Return on the money invested

ROCE

20.8%

Exceptional — 20.8% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+38.0%

Fast-growing sales (+38.0% YoY)

Profit growth

EPS YoY

+131.5%

Earnings growing fast (+131.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

139%

Turns 139% of profit into real cash

Spare cash per sale

FCF Margin

35.7%

Converts sales into free cash efficiently (35.7%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

0.10

Conservative — low debt load (0.10)

Covers its interest

Interest Cover

25.15x

Comfortably covers interest (25.1x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

16.0x

Fair value — P/E 16.0

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+6.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (16.0 → 9.5)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend

Dividend Yield

1.42%

Small dividend — 1.42% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+55.0%

Dividend growing fast (55.0% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial