Stock Track | Pan American Silver Plunges on Disappointing Q3 Results

Stock Track11-06

Pan American Silver (PAAS) shares tumbled over 5% in pre-market trading on Tuesday, November 6, as the company's third-quarter results failed to impress investors despite beating earnings and revenue estimates.

The silver mining company reported adjusted earnings per share of $0.32, surpassing analysts' expectations of $0.20. However, its reported net income of $56.7 million was significantly lower than the adjusted figure, reflecting the impact of higher costs and weaker production at some of its key operations.

Pan American Silver's cash costs and all-in sustaining costs for both its silver and gold segments, excluding inventory adjustments, came in higher than analysts' estimates. Additionally, production numbers at operations such as La Colorada, Huaron, and Dolores fell short of expectations, further weighing on the company's overall performance.

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