Executive Summary
Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines.
Snowflake
Fundamentals
Mediocre balance sheet and slightly overvalued.
Similar Companies
Share Price & News
How has Pan American Silver's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
-0.5%
PAAS
0.5%
CA Metals and Mining
0.2%
CA Market
1 Year Return
4.7%
PAAS
15.0%
CA Metals and Mining
3.5%
CA Market
Return vs Industry: PAAS underperformed the Canadian Metals and Mining industry which returned 15% over the past year.
Return vs Market: PAAS exceeded the Canadian Market which returned 3.5% over the past year.
Shareholder returns
| PAAS | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.5% | 0.5% | 0.2% |
| 30 Day | -10.9% | -8.9% | -3.3% |
| 90 Day | 0.8% | -8.0% | -1.9% |
| 1 Year | 5.8%4.7% | 15.9%15.0% | 7.3%3.5% |
| 3 Year | 0.2%-2.1% | -11.6%-13.2% | 14.7%4.4% |
| 5 Year | 95.1%81.8% | 15.4%11.6% | 26.2%7.7% |
Price Volatility Vs. Market
How volatile is Pan American Silver's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
What Kind Of Shareholder Owns Most Pan American Silver Corp. (TSE:PAAS) Stock?1 month ago | Simply Wall St
Are Insiders Buying Pan American Silver Corp. (TSE:PAAS) Stock?4 months ago | Simply Wall St
Is Pan American Silver Corp.'s (TSE:PAAS) CEO Pay Fair?Valuation
Is Pan American Silver undervalued compared to its fair value and its price relative to the market?
42.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PAAS (CA$20.82) is trading below our estimate of fair value (CA$35.93)
Significantly Below Fair Value: PAAS is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PAAS is unprofitable, so we can't compare its PE Ratio to the Metals and Mining industry average.
PE vs Market: PAAS is unprofitable, so we can't compare its PE Ratio to the Canadian market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate PAAS's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: PAAS is overvalued based on its PB Ratio (1.4x) compared to the CA Metals and Mining industry average (1.3x).
Next Steps
Future Growth
How is Pan American Silver forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
75.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PAAS is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: PAAS is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: PAAS is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: PAAS's revenue (10.6% per year) is forecast to grow faster than the Canadian market (5.5% per year).
High Growth Revenue: PAAS's revenue (10.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PAAS's Return on Equity is forecast to be low in 3 years time (10.1%).
Next Steps
Past Performance
How has Pan American Silver performed over the past 5 years?
61.5%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: PAAS is unprofitable, but has reduced losses over the past 5 years at a rate of 61.5% per year.
Accelerating Growth: Unable to compare PAAS's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: PAAS is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (-11.9%).
Return on Equity
High ROE: PAAS has a negative Return on Equity (-1.37%), as it is currently unprofitable.
Return on Assets
ROA vs Industry: PAAS is currently unprofitable, so its Return on Assets is negative.
Return on Capital Employed
ROCE Improving: PAAS is currently unprofitable, so its Return on Capital Employed is negative.
Next Steps
Financial Health
How is Pan American Silver's financial position?
Financial Position Analysis
Short Term Liabilities: PAAS's short term assets ($1.1B) exceeds its short term liabilities ($257.1M)
Long Term Liabilities: PAAS's short term assets (1.1B) exceeds its long term liabilities (746.1M)
Debt to Equity History and Analysis
Debt Level: PAAS's debt to equity ratio (14.7%) is considered satisfactory
Reducing Debt: PAAS's debt to equity ratio has increased from 2.8% to 14.7% over the past 5 years.
Balance Sheet
Inventory Level: PAAS has a high level of physical assets or inventory.
Debt Coverage by Assets: PAAS's debt is covered by short term assets (assets are 3x debt).
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Insufficient data to determine if PAAS has enough cash runway based on its current free cash flow.
Forecast Cash Runway: Insufficient data to determine if PAAS has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.
Next Steps
Dividend
What is Pan American Silver's current dividend yield, its reliability and sustainability?
0.88%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: PAAS's dividend (0.88%) isn’t notable compared to the bottom 25% of dividend payers in the Canadian market (1.98%).
High Dividend: PAAS's dividend (0.88%) is low compared to the top 25% of dividend payers in the Canadian market (5.92%).
Stable Dividend: PAAS is not paying a notable dividend for the Canadian market, therefore no need to check if payments are stable.
Growing Dividend: PAAS is not paying a notable dividend for the Canadian market, therefore no need to check if payments are increasing.
Current Payout to Shareholders
Dividend Coverage: PAAS is not paying a notable dividend for the Canadian market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of PAAS's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.
Next Steps
Management
What is the CEO of Pan American Silver's salary, the management and board of directors tenure and is there insider trading?
3.5yrs
Average management tenure
CEO
Michael Steinmann (53yo)
3.8yrs
Tenure
US$3,667,500
Compensation
Mr. Michael Steinmann, Ph.D., P.Geo., has been the President of Pan American Silver Corp. since February 18, 2015 and has been its Chief Executive Officer since January 1, 2016. Mr. Steinmann served as Exe ...
CEO Compensation Analysis
Compensation vs. Market: Michael's total compensation ($USD2.80M) is about average for companies of similar size in the Canadian market ($USD2.95M).
Compensation vs Earnings: Michael's compensation has increased whilst the company is unprofitable.
Management Age and Tenure
3.5yrs
Average Tenure
57yo
Average Age
Experienced Management: PAAS's management team is considered experienced (3.5 years average tenure).
Board Age and Tenure
3.8yrs
Average Tenure
65yo
Average Age
Experienced Board: PAAS's board of directors are considered experienced (3.8 years average tenure).
Insider Trading
Insider Buying: PAAS insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of the Board of Directors Director |
| Shares | 47,480 |
| Max Price | US$22.66 |
| Entity | Individual |
| Shares | 11,668 |
| Max Price | US$17.17 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 2,000 |
| Max Price | US$13.97 |
| Entity | Individual |
| Role | Chairman of the Board Independent Chairman |
| Shares | 170,000 |
| Max Price | US$13.95 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 10,000 |
| Max Price | US$18.20 |
Ownership Breakdown
Management Team
Steve Busby (59yo)
Chief Operating Officer
- Tenure: 11.4yrs
- Compensation: US$1.94m
Wayne Vincent (57yo)
Vice President of Accounting & Operations
- Tenure: 4.2yrs
Andres Dasso
Senior Vice President of Mining Operations
- Tenure: 0yrs
- Compensation: US$1.63m
Siren Fisekci
Vice President of Investor Relations & Corporate Communications
- Tenure: 0yrs
Rob Doyle
Chief Financial Officer
- Tenure: 15.8yrs
- Compensation: US$1.49m
Michael Steinmann (53yo)
President
- Tenure: 3.8yrs
- Compensation: US$3.67m
Martin Wafforn
Senior Vice President of Technical Services & Process Optimization
- Tenure: 3.2yrs
Christopher Lemon
General Counsel
- Tenure: 2.2yrs
Sean McAleer
Senior VP & MD of Guatemala
- Tenure: 0.6yrs
- Compensation: US$1.33m
Anibal Avendaño
Vice President of Human Resources
- Tenure: 0.6yrs
Board Members
Chuck Jeannes (61yo)
Independent Director
- Tenure: 0.7yrs
Walter Segsworth (70yo)
Lead Independent Director
- Tenure: 7.8yrs
- Compensation: US$174.00k
Michael Carroll (66yo)
Independent Director
- Tenure: 8.8yrs
- Compensation: US$180.50k
Neil de Gelder (66yo)
Independent Director
- Tenure: 7.3yrs
- Compensation: US$167.50k
Ross Beaty (67yo)
Independent Chairman
- Tenure: 0yrs
- Compensation: US$275.00k
Michael Steinmann (53yo)
President
- Tenure: 3.8yrs
- Compensation: US$3.67m
C. McArthur (64yo)
Director
- Tenure: 0.7yrs
Gill Winckler (56yo)
Independent Director
- Tenure: 3.4yrs
- Compensation: US$161.00k
Company Information
Pan American Silver Corp.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Pan American Silver Corp.
- Ticker: PAAS
- Exchange: TSX
- Founded: 1994
- Industry: Silver
- Sector: Materials
- Market Cap: CA$4.361b
- Shares outstanding: 209.48m
- Website: https://www.panamericansilver.com
Number of Employees
Location
- Pan American Silver Corp.
- 625 Howe Street
- Suite 1440
- Vancouver
- British Columbia
- V6C 2T6
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PAAS | NasdaqGS (Nasdaq Global Select) | Yes | Common Shares | US | USD | Sep 1982 |
| PAAS | TSX (The Toronto Stock Exchange) | Yes | Common Shares | CA | CAD | Sep 1982 |
| PA2 | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Sep 1982 |
| 0R07 | LSE (London Stock Exchange) | Yes | Common Shares | GB | CAD | Sep 1982 |
| PAA | SWX (SIX Swiss Exchange) | Yes | Common Shares | CH | CHF | Sep 1982 |
Biography
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 lo ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/23 23:44 |
| End of Day Share Price | 2019/10/23 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.