Pan American Silver Corp
Research Pan American Silver Corp (PAAS) on Bullrun: valuation model: 19.4% undervalued, market cap USD 19.30B, P/E 13.9, dividend yield 1.2%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerPAAS
- ExchangeNYSE
- CountryCanada
- SectorBasic Materials
- IndustryGold
- CurrencyUSD
- Valuation signal19.4% undervalued
- Market capUSD 19.30B
- P/E13.9
- Dividend yield1.2%
- Financial periodQ2 2026
- RevenueUSD 1.12B
- Net incomeUSD 304.00M
- Free cash flowUSD 221.00M
- Gross margin40.7%
Valuation Snapshot
Bullrun's latest valuation model marks Pan American Silver Corp as 19.4% undervalued; latest market cap is USD 19.30B; P/E is 13.9; dividend yield is 1.2%.
Peer valuation comparison
Latest P/E is 13.93x versus a Basic Materials sector median of 16.68x (16.5% below).
Latest dividend yield is 1.19% versus a Basic Materials sector median of 2.3% (48.1% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 3.62B | USD 978.00M | USD 1.02B | 38.8% | 2.56 | USD 1.22B | USD 852.00M | USD 7.00B |
| FY2024 | USD 2.82B | USD 112.00M | USD 401.00M | 19.5% | 0.31 | USD 863.00M | USD 804.00M | USD 4.70B |
| FY2023 | USD 2.32B | -USD 103.70M | USD 71.20M | 12.8% | -0.32 | USD 399.60M | USD 801.60M | USD 4.76B |
| FY2022 | USD 1.49B | -USD 341.70M | -USD 242.90M | 3.2% | -1.62 | USD 107.00M | USD 226.80M | USD 2.20B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-10-09 | USD 19.30B | 13.9 | 1.2% | 0.54 |
| 2025 | 2025-12-31 | USD 21.86B | 20.7 | n/a | n/a |
| 2024 | 2024-12-31 | USD 7.34B | 65.2 | 2.0% | 0.4 |
| 2023 | 2023-12-29 | USD 5.95B | n/a | 2.4% | 0.4 |
| 2022 | 2022-12-30 | USD 3.44B | n/a | 2.8% | 0.45 |
| 2021 | 2021-12-31 | USD 5.26B | 54.3 | 1.4% | 0.34 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 0.54 USD, yield 1.2%.
| Year | Dividends/share |
|---|---|
| FY2024 | 0.4 USD |
| FY2023 | 0.4 USD |
| FY2022 | 0.45 USD |
About Pan American Silver Corp
Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of mines in Chile, Peru, Brazil, Mexico, Canada, Argentina, Bolivia, and Guatemala. The Silver segment includes the La Colorada, Juanicipio, Cerro Moro, Huaron, and San Vicente mines. The Gold segment comprises the Jacobina, El Peñon, Timmins, Shahuindo, Minera Florida, and Dolores mines. It explores silver, gold, zinc, lead, and copper deposits.
ETFs that hold Pan American Silver Corp
Pan American Silver Corp is one of the ten largest holdings of 6 ETFs that investors in Europe can buy, most traded first:
| ETF | Weight | TER |
|---|---|---|
| VanEck Gold Miners UCITS ETF | 2.90% | 0.53% |
| Global X Silver Miners UCITS ETF USD Acc | 13.75% | 0.65% |
| iShares Gold Producers UCITS ETF USD (Acc) | 2.71% | 0.55% |
| Amundi Gold Miners UCITS ETF USD Distributing | 2.63% | 0.65% |
| UBS Solactive US Listed Gold & Silver Miners UCITS ETF USD acc | 7.89% | 0.36% |
| BNP Paribas Easy MSCI World Equal Weight Select UCITS ETF | 0.13% | 0.20% |
Compare every fund on the same index:
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Frequently asked questions
Is Pan American Silver Corp overvalued or undervalued?
Bullrun's valuation model currently marks Pan American Silver Corp as 19.4% undervalued.
What is Pan American Silver Corp's market cap?
Pan American Silver Corp's market capitalization is USD 19.30B.
What is Pan American Silver Corp's P/E ratio?
Pan American Silver Corp's price-to-earnings (P/E) ratio is 13.9.
Does Pan American Silver Corp pay a dividend?
Pan American Silver Corp has a dividend yield of 1.2%.
What does Pan American Silver Corp do?
Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of mines in Chile, Peru, Brazil, Mexico, Canada, Argentina, Bolivia, and Guatemala. The Silver segment includes the La Colorada, Juanicipio, Cerro Moro, Huaron, and San Vicente mines. The Gold segment comprises the Jacobina, El Peñon, Timmins, Shahuindo, Minera Florida, and Dolores mines. It explores silver, gold, zinc, lead, and copper deposits. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp. in April 1995.