Scotiabank Maintained a Buy Rating on Pan American Silver (PAAS), Kept the PT Unchanged

Pan American Silver Corp. (NYSE:PAAS) is one of the Best Performing Canadian Stocks So Far in 2025. On August 7, Ovais Habib from Scotiabank maintained a Buy rating on Pan American Silver Corp. (NYSE:PAAS) with a price target of $36.50.

The reiterated bullish sentiment follows the company’s unaudited second-quarter 2025 results announcement. During the quarter, the company achieved a record free cash flow of $233 million, boosting its cash reserves to $1.1 billion. Management noted that it plans to invest $500 million to acquire MAG Silver Corp., adding the high-margin Juanicipio mine in Mexico to increase silver production by about 35% annually.

In addition to this, the company’s silver production reached 5.1 million ounces, and gold production was 178,700 ounces. As a result, Pan American Silver Corp.’s (NYSE:PAAS) revenue reached $811.9 million, reflecting an 18.30% increase year-over-year and ahead of estimates by $39.53 million. Management has also raised its dividend by 20%, from $0.10 to $0.12 per share, and remains on track with its 2025 production and cost outlook.

Pan American Silver Corp. (NYSE:PAAS) is a mining company that produces silver, gold, copper, lead, and zinc.

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Disclosure: None. This article is originally published at Insider Monkey.