As of March 14, 2025, Pan American Silver Corp. (NASDAQ: PAAS) has reported robust financial and operational performance for the fiscal year ending December 31, 2024. Below is a comprehensive overview of the company's financials, production metrics, and asset portfolio.
Financial Performance
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Revenue: The company achieved record revenues totaling $2.8 billion for the full year 2024. Stock Titan+1tipranks.com+1
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Net Earnings: Net earnings for FY 2024 were reported at $112.7 million, translating to basic earnings per share of $0.31. tipranks.com+2Stock Titan+2Investing News+2
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Cash Flow: Pan American Silver generated record cash flow from operating activities amounting to $724.1 million in 2024. Investing News
Cash and Cash Equivalents
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Cash Position: As of December 31, 2024, the company reported cash and short-term investments totaling $887.3 million. Stock Titan+2panamericansilver.com+2panamericansilver.com+2
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Working Capital: The company's working capital stood at $1,033.4 million at year-end 2024. panamericansilver.com
Operating Costs
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Silver Segment:
- Cash Costs: $14.30 per ounce for FY 2024.Investing News+1Stock Titan+1
- All-In Sustaining Costs (AISC): $18.98 per ounce, excluding net realizable value (NRV) inventory adjustments. Investing News
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Gold Segment:
- Cash Costs: $1,203 per ounce for FY 2024.finance.yahoo.com+6Investing News+6Stock Titan+6
- AISC: $1,501 per ounce, excluding NRV inventory adjustments. Investing News+1panamericansilver.com+1
Production in 2024
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Silver: Total production of 21.1 million ounces, with 6.0 million ounces produced in Q4 2024. panamericansilver.com+4Stock Titan+4finance.yahoo.com+4
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Gold: A record production of 892.5 thousand ounces for the year, including 224.2 thousand ounces in Q4 2024. Investing News+1Stock Titan+1
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Other Metals: The company also met its annual production targets for zinc, lead, and copper. Stock Titan
Mine Production Details
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La Colorada (Mexico):
- Q4 2024: Produced 1.6 million ounces of silver.panamericansilver.com+1Stock Titan+1
- FY 2024: Total silver production of 4.878 million ounces. panamericansilver.com
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Cerro Moro (Argentina):
- Q4 2024: Produced 829 thousand ounces of silver and 22.5 thousand ounces of gold.panamericansilver.com
- FY 2024: Total silver production of 2.969 million ounces and gold production of 77.5 thousand ounces. panamericansilver.com
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Jacobina (Brazil):
- FY 2024: Achieved a record gold production of 197 thousand ounces, the highest in the mine's history. Investing News+2panamericansilver.com+2Stock Titan+2
As of March 14, 2025, Pan American Silver Corp. operates the following mines across the Americas:
Mexico:
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La Colorada Mine: Located in Zacatecas, this mine is one of Pan American Silver's primary silver producers. panamericansilver.com
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Dolores Mine: Situated in Chihuahua, this mine produces both silver and gold. en.wikipedia.org+1businesswire.com+1
Peru:
- Huarón Mine: Located in the Pasco Region, this mine is known for its polymetallic deposits, including silver, zinc, lead, and copper. en.wikipedia.org
Bolivia:
- San Vicente Mine: Situated in the Potosí Department, this mine produces silver, zinc, and lead. en.wikipedia.org
Argentina:
- Cerro Moro Mine: Located in Santa Cruz, this mine produces both silver and gold. en.wikipedia.org
Brazil:
- Jacobina Mine: Situated in Bahia, this is a significant gold-producing mine. businesswire.com+3panamericansilver.com+3en.wikipedia.org+3
Chile:
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El Peñón Mine: Located in the Antofagasta Region, this mine produces both gold and silver. panamericansilver.com
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Minera Florida Mine: Situated in the Santiago Metropolitan Region, this mine produces gold, silver, and zinc. en.wikipedia.org
Canada:
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Timmins Mine: Located in Ontario, this is a gold-producing mine.
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Whitney Mine: Situated in Ontario, this mine is part of the company's gold segment. panamericansilver.com
Peru:
- Shahuindo Mine: Located in the Cajamarca Region, this mine produces gold and silver.
These operations underscore Pan American Silver's extensive mining activities across the Americas, focusing on the production of silver, gold, zinc, lead, and copper.panamericansilver.com+2panamericansilver.com+2panamericansilver.com+2
Total Assets and Mineral Reserves
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Total Assets: As of December 31, 2024, Pan American Silver's total assets were valued at approximately $6.5 billion.
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Mineral Reserves:
- Proven and Probable Silver Reserves: Approximately 550 million ounces.
- Proven and Probable Gold Reserves: Approximately 5.8 million ounces. panamericansilver.com
These figures underscore Pan American Silver Corp.'s strong financial health, efficient operational management, and substantial asset base, positioning the company favorably within the precious metals industry.
ED Note:
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