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Pan American Silver

Nasdaq:PAAS
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PAAS
Nasdaq
CA$4B
Market Cap
  1. Home
  2. US
  3. Materials
Company description

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The last earnings update was 20 days ago. More info.


Add to Portfolio Compare Print
  • Pan American Silver has significant price volatility in the past 3 months.
PAAS Share Price and Events
7 Day Returns
-14.5%
NasdaqGS:PAAS
0.4%
US Metals and Mining
5.3%
US Market
1 Year Returns
9.9%
NasdaqGS:PAAS
-27.9%
US Metals and Mining
-10.7%
US Market
PAAS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pan American Silver (PAAS) -14.5% -31.8% -38.9% 9.9% -19.5% 58%
US Metals and Mining 0.4% -17.2% -31.3% -27.9% -28% -10.6%
US Market 5.3% -13.6% -19.8% -10.7% 8% 20.4%
1 Year Return vs Industry and Market
  • PAAS outperformed the Metals and Mining industry which returned -27.9% over the past year.
  • PAAS outperformed the Market in United States of America which returned -10.7% over the past year.
Price Volatility
PAAS
Industry
5yr Volatility vs Market

Value

 Is Pan American Silver undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Pan American Silver to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Pan American Silver.

NasdaqGS:PAAS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:PAAS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.829 (1 + (1- 26.5%) (11.23%))
0.932
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (0.932 * 5.44%)
6.81%

Discounted Cash Flow Calculation for NasdaqGS:PAAS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Pan American Silver is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqGS:PAAS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.81%)
2020 213.49 Analyst x8 199.88
2021 442.78 Analyst x6 388.13
2022 443.80 Analyst x3 364.23
2023 411.00 Analyst x1 315.81
2024 392.82 Est @ -4.42% 282.60
2025 382.71 Est @ -2.57% 257.78
2026 377.81 Est @ -1.28% 238.26
2027 376.40 Est @ -0.37% 222.23
2028 377.38 Est @ 0.26% 208.61
2029 380.03 Est @ 0.7% 196.69
Present value of next 10 years cash flows $2,674.00
NasdaqGS:PAAS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $380.03 × (1 + 1.74%) ÷ (6.81% – 1.74%)
$7,628.94
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $7,628.94 ÷ (1 + 6.81%)10
$3,948.39
NasdaqGS:PAAS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,674.00 + $3,948.39
$6,622.39
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $6,622.39 / 210.00
$31.53
NasdaqGS:PAAS Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:PAAS)
1.417
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $31.53 x 1.417
CA$44.7
Non-primary Listing Adjustment Factor 1 share in NasdaqGS:PAAS represents 0.70864x of TSX:PAAS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.70864x
Value per Share
(Listing Adjusted, USD)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 44.70 x 0.70864
$31.68
Value per share (USD) From above. $31.68
Current discount Discount to share price of $14.35
= -1 x ($14.35 - $31.68) / $31.68
54.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Pan American Silver is available for.
Intrinsic value
>50%
Share price is $14.35 vs Future cash flow value of $31.68
Current Discount Checks
For Pan American Silver to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pan American Silver's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Pan American Silver's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Pan American Silver's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pan American Silver's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:PAAS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.55
TSX:PAAS Share Price ** TSX (2020-03-31) in CAD CA$20.25
TSX:PAAS Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.705 $14.29
United States of America Metals and Mining Industry PE Ratio Median Figure of 35 Publicly-Listed Metals and Mining Companies 8.43x
United States of America Market PE Ratio Median Figure of 2,939 Publicly-Listed Companies 13.13x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Pan American Silver.

NasdaqGS:PAAS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:PAAS Share Price ÷ EPS (both in USD)

= 14.29 ÷ 0.55

25.98x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pan American Silver is overvalued based on earnings compared to the US Metals and Mining industry average.
  • Pan American Silver is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Pan American Silver's expected growth come at a high price?
Raw Data
NasdaqGS:PAAS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
41.9%per year
United States of America Metals and Mining Industry PEG Ratio Median Figure of 22 Publicly-Listed Metals and Mining Companies -0.13x
United States of America Market PEG Ratio Median Figure of 2,006 Publicly-Listed Companies 0.99x

*Line of best fit is calculated by linear regression .

NasdaqGS:PAAS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.98x ÷ 41.9%

0.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pan American Silver is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Pan American Silver's assets?
Raw Data
NasdaqGS:PAAS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $11.74
TSX:PAAS Share Price * TSX (2020-03-31) in CAD CA$20.25
TSX:PAAS Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.705 $14.29
United States of America Metals and Mining Industry PB Ratio Median Figure of 105 Publicly-Listed Metals and Mining Companies 1.07x
United States of America Market PB Ratio Median Figure of 5,138 Publicly-Listed Companies 1.28x
NasdaqGS:PAAS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:PAAS Share Price ÷ Book Value per Share (both in USD)

= 14.29 ÷ 11.74

1.22x

* Primary Listing of Pan American Silver.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pan American Silver is overvalued based on assets compared to the US Metals and Mining industry average.
X
Value checks
We assess Pan American Silver's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Pan American Silver has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Pan American Silver expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
41.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pan American Silver expected to grow at an attractive rate?
  • Pan American Silver's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Pan American Silver's earnings growth is expected to exceed the United States of America market average.
  • Pan American Silver's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:PAAS Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:PAAS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 41.9%
NasdaqGS:PAAS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 6.3%
United States of America Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 9.7%
United States of America Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:PAAS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:PAAS Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 1,839 782 1
2023-12-31 1,834 688 2
2022-12-31 1,810 691 469 4
2021-12-31 1,751 627 348 6
2020-12-31 1,652 494 211 7
2020-04-01
NasdaqGS:PAAS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,351 282 111
2019-09-30 1,120 164 25
2019-06-30 955 124 -22
2019-03-31 810 108 -2
2018-12-31 784 155 10
2018-09-30 837 222 123
2018-06-30 840 244 150
2018-03-31 825 220 149
2017-12-31 817 225 121
2017-09-30 781 191 94
2017-06-30 824 229 119
2017-03-31 815 253 118

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pan American Silver's earnings are expected to grow significantly at over 20% yearly.
  • Pan American Silver's revenue is expected to grow by 6.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:PAAS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Pan American Silver Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:PAAS Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 2.23 2.23 2.23 1.00
2021-12-31 1.80 1.80 1.80 1.00
2020-12-31 1.19 1.38 1.00 2.00
2020-04-01
NasdaqGS:PAAS Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.55
2019-09-30 0.14
2019-06-30 -0.12
2019-03-31 -0.01
2018-12-31 0.07
2018-09-30 0.80
2018-06-30 0.98
2018-03-31 0.97
2017-12-31 0.79
2017-09-30 0.61
2017-06-30 0.78
2017-03-31 0.77

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Pan American Silver is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Pan American Silver's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Pan American Silver has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Pan American Silver performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Pan American Silver's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Pan American Silver has delivered over 20% year on year earnings growth in the past 5 years.
  • Pan American Silver's 1-year earnings growth exceeds its 5-year average (975.8% vs 68.1%)
  • Pan American Silver's earnings growth has exceeded the US Metals and Mining industry average in the past year (975.8% vs -26.9%).
Earnings and Revenue History
Pan American Silver's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Pan American Silver Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:PAAS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,350.76 110.74 41.55
2019-09-30 1,119.74 25.49 37.94
2019-06-30 955.27 -21.62 36.32
2019-03-31 810.18 -1.88 32.47
2018-12-31 784.50 10.29 33.79
2018-09-30 837.17 123.00 33.83
2018-06-30 840.24 149.71 36.39
2018-03-31 825.10 149.00 38.67
2017-12-31 816.83 120.99 39.25
2017-09-30 781.39 93.88 38.91
2017-06-30 824.25 119.39 37.21
2017-03-31 815.19 117.72 37.26
2016-12-31 774.78 100.09 35.00
2016-09-30 747.14 -54.60 34.55
2016-06-30 672.91 -164.42 30.02
2016-03-31 654.84 -205.54 27.53
2015-12-31 674.69 -226.65 29.97
2015-09-30 674.82 -620.45 29.09
2015-06-30 693.68 -573.65 31.30
2015-03-31 720.33 -571.80 32.03
2014-12-31 751.94 -545.59 31.13
2014-09-30 781.21 -312.50 28.01
2014-06-30 816.50 -278.09 27.35
2014-03-31 791.23 -459.16 29.52
2013-12-31 824.50 -445.85 33.07
2013-09-30 879.48 -183.42 43.91
2013-06-30 917.77 -174.99 50.13

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Pan American Silver has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Pan American Silver used its assets less efficiently than the US Metals and Mining industry average last year based on Return on Assets.
  • Pan American Silver's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Pan American Silver's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Pan American Silver has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Pan American Silver's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Pan American Silver's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pan American Silver is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Pan American Silver's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Pan American Silver's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Pan American Silver Company Filings, last reported 3 months ago.

NasdaqGS:PAAS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,467.85 295.79 238.34
2019-09-30 2,450.23 335.79 177.02
2019-06-30 2,418.93 355.79 138.82
2019-03-31 2,407.43 355.79 121.56
2018-12-31 1,513.35 20.79 212.51
2018-09-30 1,581.60 20.79 252.66
2018-06-30 1,595.81 20.79 250.25
2018-03-31 1,563.70 20.79 224.84
2017-12-31 1,521.05 23.79 227.54
2017-09-30 1,471.97 20.79 186.28
2017-06-30 1,457.99 59.49 198.19
2017-03-31 1,426.07 56.99 205.42
2016-12-31 1,399.00 56.99 217.61
2016-09-30 1,379.10 62.20 245.27
2016-06-30 1,335.15 73.86 204.19
2016-03-31 1,300.26 75.39 177.62
2015-12-31 1,298.62 76.57 226.64
2015-09-30 1,441.29 76.66 266.09
2015-06-30 1,516.50 80.08 274.91
2015-03-31 1,531.34 78.49 292.45
2014-12-31 1,569.94 73.19 330.41
2014-09-30 2,113.11 69.12 377.49
2014-06-30 2,152.35 59.29 381.64
2014-03-31 2,176.83 70.30 394.38
2013-12-31 2,188.79 75.19 422.72
2013-09-30 2,499.21 72.54 421.35
2013-06-30 2,503.97 74.31 441.17
  • Pan American Silver's level of debt (12%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (4.7% vs 12% today).
  • Debt is well covered by operating cash flow (95.3%, greater than 20% of total debt).
  • Pan American Silver earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Pan American Silver's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Pan American Silver has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Pan American Silver's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.4%
Current annual income from Pan American Silver dividends. Estimated to be 1.61% next year.
If you bought $2,000 of Pan American Silver shares you are expected to receive $28 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Pan American Silver's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.95%).
  • Pan American Silver's dividend is below the markets top 25% of dividend payers in United States of America (5.37%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:PAAS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
United States of America Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 31 Stocks 3.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1946 Stocks 2.9%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.9%
United States of America Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:PAAS Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 0.14 1.00
2023-12-31 0.14 1.00
2022-12-31 0.27 2.00
2021-12-31 0.22 4.00
2020-12-31 0.30 2.00
2020-04-01
NasdaqGS:PAAS Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-12 0.200 1.361
2020-02-19 0.200 0.913
2019-11-06 0.140 0.667
2019-08-07 0.140 0.833
2019-05-08 0.140 1.115
2019-02-20 0.140 1.074
2018-11-06 0.140 0.994
2018-08-08 0.140 0.920
2018-05-09 0.140 0.808
2018-02-21 0.140 0.874
2017-11-08 0.100 0.641
2017-03-22 0.100 0.582
2017-02-15 0.100 0.572
2016-11-15 0.050 0.289
2016-11-14 0.050 0.323
2016-08-11 0.050 0.289
2016-02-18 0.050 0.368
2015-11-12 0.200 2.912
2015-08-14 0.200 2.846
2015-05-11 0.200 2.467
2015-03-26 0.500 5.357
2015-02-19 0.500 5.333
2014-08-13 0.500 4.581
2014-05-08 0.500 3.560
2014-02-19 0.500 3.690
2013-11-14 0.500 4.266
2013-08-14 0.500 4.460
2013-05-14 0.500 4.143
2013-02-21 0.500 3.422
2013-02-20 0.500 3.110
2012-11-08 0.200 1.089
2012-08-15 0.200 1.007
2012-08-14 0.200 1.305
2012-05-16 0.150 0.934
2012-02-23 0.150 0.738
2011-11-09 0.100 0.422
2011-08-11 0.100 0.337
2011-05-19 0.100 0.321
2011-02-16 0.100 0.275
2010-11-09 0.100 0.273
2010-08-11 0.050 0.179
2010-02-16 0.050 0.206

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Pan American Silver's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5.9x coverage).
X
Income/ dividend checks
We assess Pan American Silver's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Pan American Silver afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pan American Silver has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Pan American Silver's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michael Steinmann
COMPENSATION $3,667,500
AGE 53
TENURE AS CEO 4.3 years
CEO Bio

Mr. Michael Steinmann, Ph.D., P.Geo., has been the President of Pan American Silver Corp. since February 18, 2015 and has been its Chief Executive Officer since January 1, 2016. Mr. Steinmann served as Executive Vice President of Corporate Development & Geology at Pan American Silver Corp. since September 01, 2008. He was responsible for business development, project evaluation and all aspects of geology and exploration. Mr. Steinmann is a Geologist with over 20 years of experience in the exploration and mining industry. He has worked on exploration projects, mine evaluations and in underground and open pit mines throughout South America, the USA, Europe and Asia for companies like Rio Tinto and Glencore. He served as Senior Vice President, Geology and Exploration of Pan American Silver Corp., from November 2005 to August 2008. Mr. Steinmann has extensive experience throughout South America in mine operations, project development and corporate M&A having participated in numerous mine construction projects from exploration and feasibility studies, through start-up and into continuous operation. He was involved in several capital market transactions including placements of equity and debt and played a pivotal role in the successful acquisition of Aquiline Resources Inc. (Navidad project) and Minefinders Corporation Ltd. (Dolores mine), as well as in numerous other exploration and business development initiatives. He served as Vice President- Geology-Operations and Projects of Pan American Silver Corp. since March 15, 2004 and Manager of Geology for Glencore, South American operations and projects from 2000 to 2004. He has been Director at Lumina Gold Corp. since July 2014. He has been Director of Esperanza Resources Corp since February 2013, Pan American Silver Corp. since January 01, 2016 and Odin Mining & Exploration Ltd., since July 22, 2014. Mr. Steinmann holds a Ph.D. in Natural Science (Geology) from the Swiss Federal Institute of Technology and an M.Sc. in Geology from the University of Zurich on Regional Geology and Tectonics of Southern Ecuador. He holds a Degree in Corporate Finance from Escuela Superior de Administracio´n y Negocios, Lima.

CEO Compensation
  • Michael's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Michael's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Pan American Silver management team in years:

4
Average Tenure
58
Average Age
  • The tenure for the Pan American Silver management team is about average.
Management Team

Michael Steinmann

TITLE
President
COMPENSATION
$4M
AGE
53
TENURE
4.3 yrs

Rob Doyle

TITLE
Chief Financial Officer
COMPENSATION
$1M
TENURE
16.3 yrs

Steve Busby

TITLE
Chief Operating Officer
COMPENSATION
$2M
AGE
59
TENURE
11.9 yrs

Andres Dasso

TITLE
Senior Vice President of Mining Operations
COMPENSATION
$2M

Sean McAleer

TITLE
Senior VP & MD of Guatemala
COMPENSATION
$1M
TENURE
1.2 yrs

Wayne Vincent

TITLE
Vice President of Accounting & Operations
AGE
57
TENURE
4.7 yrs

Martin Wafforn

TITLE
Senior Vice President of Technical Services & Process Optimization
AGE
60
TENURE
3.7 yrs

Siren Fisekci

TITLE
Vice President of Investor Relations & Corporate Communications

Christopher Lemon

TITLE
General Counsel
TENURE
2.7 yrs

Mireya Castaneda

TITLE
Vice President of Human Resources Operations
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure and age of the Pan American Silver board of directors in years:

4.3
Average Tenure
65
Average Age
  • The tenure for the Pan American Silver board of directors is about average.
Board of Directors

Ross Beaty

TITLE
Independent Chairman
COMPENSATION
$275K
AGE
67

Michael Steinmann

TITLE
President
COMPENSATION
$4M
AGE
53
TENURE
4.3 yrs

Michael Carroll

TITLE
Independent Director
COMPENSATION
$181K
AGE
66
TENURE
9.3 yrs

Neil de Gelder

TITLE
Independent Director
COMPENSATION
$168K
AGE
66
TENURE
7.8 yrs

Gill Winckler

TITLE
Independent Director
COMPENSATION
$161K
AGE
56
TENURE
3.9 yrs

Walter Segsworth

TITLE
Lead Independent Director
COMPENSATION
$174K
AGE
70
TENURE
8.3 yrs

C. McArthur

TITLE
Director
AGE
64
TENURE
1.2 yrs

Chuck Jeannes

TITLE
Independent Director
AGE
61
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Pan American Silver individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
19. Mar 20 Buy Neil de Gelder Individual 18. Mar 20 18. Mar 20 2,500 $13.66 $34,139
15. Aug 19 Sell C. McArthur Individual 14. Aug 19 14. Aug 19 -47,480 $17.02 $-808,110
11. Jul 19 Sell Matthew Andrews Individual 10. Jul 19 10. Jul 19 -11,668 $13.09 $-152,789
01. Jun 19 Buy Gillian Winckler Individual 29. May 19 29. May 19 2,000 $10.32 $20,646
22. May 19 Buy Ross Beaty Individual 22. May 19 22. May 19 170,000 $10.40 $1,767,696
X
Management checks
We assess Pan American Silver's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Pan American Silver has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is Pan American Silver Corp (NASDAQ:PAAS) A Sell At Its Current PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for PAAS Price per share = $15.69 Earnings per share = $0.79 ∴ Price-Earnings Ratio = $15.69 ÷ $0.79 = 19.9x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … For example, if you inadvertently compared riskier firms with PAAS, then investors would naturally value PAAS at a higher price since it is a less risky investment. … Similarly, if you accidentally compared lower growth firms with PAAS, investors would also value PAAS at a higher price since it is a higher growth investment.

Simply Wall St -

Company Info

Description

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper. The company holds interests in the La Colorada, Dolores, Huaron, Morococha, La Arena, Shahuindo, San Vicente, Manantial Espejo, and Timmins mines. Pan American Silver Corp. was founded in 1994 and is headquartered in Vancouver, Canada.

Details
Name: Pan American Silver Corp.
PAAS
Exchange: NasdaqGS
Founded: 1994
CA$3,000,157,233
210,002,117
Website: http://www.panamericansilver.com
Address: Pan American Silver Corp.
625 Howe Street,
Suite 1440,
Vancouver,
British Columbia, V6C 2T6,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX PAAS Common Shares The Toronto Stock Exchange CA CAD 15. Sep 1982
NasdaqGS PAAS Common Shares Nasdaq Global Select US USD 15. Sep 1982
DB PA2 Common Shares Deutsche Boerse AG DE EUR 15. Sep 1982
LSE 0R07 Common Shares London Stock Exchange GB CAD 15. Sep 1982
SWX PAA Common Shares SIX Swiss Exchange CH CHF 15. Sep 1982
Number of employees
Current staff
Staff numbers
6,800
Pan American Silver employees.
Industry
Silver
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/01 04:26
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/03/12
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.