PAN AMERICAN SILVER Reports Record Earnings Results for First Quarter of FY2023

Earnings Overview

On May 10, 2023, PAN AMERICAN SILVER ($TSX:PAAS) released its earnings report for the quarter ending March 31, 2023. The company’s total revenue was USD 390.3 million, a decrease of 11.3% year-over-year. Net income for the quarter was USD 16.4 million, a decrease of 78.6% from the first quarter of FY2022.

Market Price

On Wednesday, PAN AMERICAN SILVER reported record earnings results for the first quarter of their fiscal year 2023. Stock opened at CA$24.0 and closed at CA$23.5, down by 2.0% from last closing price of 24.0. Moreover, the company is also looking to explore new opportunities in copper, zinc and nickel production as part of its long-term growth strategy.

Overall, the strong earnings results mark a successful start to the first quarter of PAN AMERICAN SILVER’s FY2023, with the company achieving notable growth and achieving record-high earnings results. Despite the small dip in stock price on Wednesday, investors remain confident in the company’s long-term success and growth potential. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for PAAS. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for PAAS. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for PAAS. More…

Key Ratios Snapshot

Some of the financial key ratios for PAAS are shown below. More…

Analysis

At GoodWhale, we believe that analyzing a company’s financials is an essential part of making good investments. That’s why we offer comprehensive financial analytics for PAN AMERICAN SILVER on our platform. Our Risk Rating algorithm assesses a company’s investment grade based on various criteria and gives us a score out of 10. Additionally, our automated analysis has detected two risk warnings in PAN AMERICAN SILVER’s income sheet and balance sheet. To view the exact warnings and access more detailed insights into the company’s financials, register on our website today. More…

Peers

The company has operations in Mexico, Peru, Bolivia, and Argentina. The company’s shares are listed on the Toronto Stock Exchange and the New York Stock Exchange. The company’s market capitalization is approximately $5.6 billion. The company’s competitors include Kuya Silver Corp, First Majestic Silver Corp, and Silver Verde May Mining Co.

– Kuya Silver Corp ($OTCPK:KUYAF)

Kyua Silver Corp is a Canadian mining company with a market cap of 15.55M as of 2022. The company has a return on equity of -27.34%. Kyua Silver Corp is engaged in the exploration and development of silver properties in Mexico.

– First Majestic Silver Corp ($TSX:FR)

First Majestic Silver Corp is a Canadian precious metals mining company that owns and operates silver mines in Mexico. The company has a market cap of $3.03 billion as of 2022 and a return on equity of 0.14%. First Majestic Silver Corp is the largest primary silver producer in Mexico and one of the leading silver companies in the world. The company’s mission is to continue to grow its reserves, production and profitability while maintaining its commitment to environmental, social and corporate governance.

Summary

PAN AMERICAN SILVER reported lackluster first quarter financial results for FY2023, ending on March 31 2023. Total revenue dropped 11.3% compared to the same period in the previous year, while net income dropped a much steeper 78.6%. This paints a bleak picture for investors, suggesting that the company’s performance has weakened significantly.

Despite this, the company has stated that it is committed to improving the long-term growth prospects of its shareholders. Moving forward, investors should take caution when evaluating PAN AMERICAN SILVER’s stock and carefully consider how it will be affected by the current economic environment.