-=Pan American Silver (PAAS) reported earnings on Wed 12 May 21 (a/h)

 

Pan American Silver Corp. (PAAS) reported first-quarter 2021 adjusted earnings per share of 18 cents, missing the Zacks Consensus Estimate of 31 cents. The company had reported adjusted earnings per share of 10 cents in the year-ago quarter. The pandemic-related challenges unfavorably impacted the company’s quarterly results.

Including one-time items, the company reported a loss per share of 4 cents in the first quarter compared with the year-ago quarter’s 37 cents.

Pan American Silver’s revenues improved 2.8% year over year to $368 million during the March-end quarter. The top-line figure, however, missed the Zacks Consensus Estimate of $465 million. Revenues in the reported quarter were affected by increase in inventory. Average realized silver price during the quarter jumped 60% year over year to $26.41 per equivalent ounce. Average realized gold price also increased 13.2% year over year to 1,788 per equivalent ounce.

Operational Update

Consolidated silver production for the quarter was 4.6 million ounces, down 17.8% year over year, primarily due to reduced production at LaColorada and Dolores. Consolidated gold production of 137.6 thousand ounces during the March-end quarter reflects a year-over-year decline of 11.5% on lower production at Timmins.

Silver segment’s cash costs were $12.30 per ounce in the first quarter, up 50.3% from the year-ago period. The segment’s all-in sustaining costs (AISC) costs were also up 11.3% year over year to $16.99 per ounce in the quarter. Gold segment’s cash costs were $846 per ounce, up 11.7% from the year-earlier quarter. The segment AISC costs came in at $1,058 per ounce in the January-March period, reflecting a year-over-year increase of 9.2%.

Earnings this week : May 10 - 14, 2021 (wk 19)

Monday (May 10)

• Morning:  APD AMBC BALY BHVN CRNC CEVA CHH COTY DBD DUK ENR GTES GEO XENT MX MAR RDNT SGMS TGNA TTD TSN USFD WB WKHS
• Afternoon: DDD EGHT ACM AFRM AEE BHF BRKS ELY CNNE CSTL CPSI EVBG FOE FGEN G HALO HLIO HHC INO IPAR IFF JCOM MGNI MRVI MBI MESA MODN NCMI NHI NLS NNI NLOK NVAX NUAN OSH OXY RXT RPAY RBA RBLX SAIL SCSC SEER SWAV SPG SDC SUM SWCH REAL TREX VLDR SPCE VOYA VUZI WES WSC WYNN

Tuesday (May 11)

• Morning: ARMK BSY BLI IMOS HBI IGT KRNT MAC MIME NOVT PLTR PRGO PLTK SDGR TDG
• Afternoon:  ARRY BGS BIGC DAR EA FUBO GO HBM NARI JAMF KGC LMND OLO LPRO OPEN OR QS SLQT U UPST VZIO

Wednesday (May 12)

• Morning:  APG DFH DT LITE TSEM WEN WIX WWW
• Afternoon:  APP ONEM DOX AMWL BOOT BMBL COMP CPNG MSP GOCO GRWG JACK ONTF PAAS POSH SONO TTCF VRM  YCBD WISH

Thursday (May 13)

• Morning: BABA AZEK BILI BAM GOOS CSPR CELH CGEN HAE KELYA EYE NICE PGTI SHC TUFN VERX XPEV YETI
• Afternoon:  ABNB COIN DASH FTCH GLOB GDRX NEWR PLT PUBM DIS

-=Tahoe Resources (TAHO) to be acquired by Pan American Silver (PAAS) for $1.07 billion

• update 2/22/19: Pan Am Silver (PAAS) and Tahoe Resources (TAHO) today completed the previously announced transaction whereby Pan American acquired all of the issued and outstanding shares of Tahoe.

Tahoe Resources to be acquired by Pan American Silver (PAAS) for cash/stock; maximum consideration of $275 mln

• Pursuant to the Arrangement, Tahoe shareholders may elect to receive US$3.40 in cash or 0.2403 Pan American shares for each Tahoe share, subject in each case to pro-ration based on a maximum cash consideration of US$275 million and a maximum number of Pan American shares issued of 56.0 million, totaling US$1,067 million.
• The Base Purchase Price represents a premium of 34.9% to Tahoe's volume weighted average price for the 20-day period ending on November 13, 2018.
• The Board of Directors of Pan American has unanimously approved the Transaction. The Board of Directors of Tahoe, on the unanimous recommendation of a Committee of Independent Directors of Tahoe, has unanimously approved the Transaction. The Board of Directors of each of Pan American and Tahoe unanimously recommend that Pan American and Tahoe shareholders vote in favor of the Transaction.

Nov 14 (Reuters) - Pan American Silver Corp said on Wednesday it agreed to buy miner Tahoe Resources Inc for $1.07 billion in cash and stock, creating one of the world's top silver mining companies.

Pan American shareholders will own about three-fourths of the combined company, with Tahoe shareholders owning the rest in the combined company, Pan American said.

Tahoe shareholders may elect to receive $3.40 in cash or 0.2403 Pan American share for each Tahoe share held, the company said.

The base purchase price of $3.40 per share represents a premium of about 55 percent to Tahoe's last close.

The purchase price is limited to a maximum cash consideration of $275 million and a maximum issue of 56 million Pan American shares.

The deal also includes an issuance of contingent value rights to Tahoe shareholders, payable upon first commercial shipment of concentrate following restart of operations at the Escobal mine, the company said.

The total consideration, including the base purchase price and the conditional payment, is $4.10 per share.

The boards of both companies have approved the deal, the company said.

CIBC World Markets Inc is acting as lead financial adviser to Pan American and Trinity Advisors Corp is acting as financial adviser to Tahoe.

The deal is expected to close in the first-quarter of 2019.

=Pan American Silver (PAAS) reported earnings on Wed 8 Nov 2017 (a/h)

• Pan American Silver beats 3Q profit forecasts

VANCOUVER, British Columbia (AP) _ Pan American Silver Corp. (PAAS) on Wednesday reported third-quarter earnings of $17.8 million.

On a per-share basis, the Vancouver, British Columbia-based company said it had profit of 11 cents. Earnings, adjusted for non-recurring costs, were 15 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The silver mining company posted revenue of $190.8 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $203.8 million.

=Pan Am Silver (PAAS) reported earnings on Tue 15 November 2016 (b/o)

Pan Am Silver beats by $0.12, beats on revs :

• Reports Q3 (Sep) earnings of $0.28 per share, $0.12 better than the Capital IQ Consensus of $0.16; revenues rose 46.6% year/year to $233.7 mln vs the $194.75 mln Capital IQ Consensus.
• Silver production in Q3 2016 was 6.36 million ounces compared with 6.61 million ounces in Q3 2015. The decrease reflects anticipated production declines at Alamo Dorado, with the mine reaching the end of its life, and at Dolores due to lower grades from mine sequencing.
• The decreases at these mines were partially offset by higher silver production at La Colorada, Morococha and Huaron.
• Silver production in 2016 is pacing ahead of plan, and we are now raising our outlook for silver production in 2016 to 25.0 to 25.7 million ounces.
• Gold production was 50.4 thousand ounces in the third quarter of 2016 and 140.0 thousand ounces in the nine-month period of 2016, in line with guidance.
• Operations continue to perform well across all of our mines, leading us to increase our production outlook and further reduce our cost estimates for the year.
  • Co now expects to produce 25 to 25.7 million ounces of silver in 2016 at a cash cost of $6.25 to $7.00 per ounce.