PAAS Reports Mineral Reserves With La Colorada Exploration Success

Pan American Silver Corp. PAAS announced that its proven and probable mineral reserves at the end of June 30, 2025, are estimated to total 452.3 million ounces of silver and 6.3 million ounces of gold. These estimates, however, do not factor in PAAS’s acquisition of MAG Silver, which was completed on Sept. 4.

Pan American Silver’s measured and indicated mineral resources are estimated to contain 1,130.6 million ounces of silver and 9.9 million ounces of gold. The estimated inferred mineral resources contain 405.6 million ounces of silver and 8.6 million ounces of gold.

The company announced promising drill results at its La Colorada mine in Mexico on Monday. Pan American Silver’s exploration efforts at the La Colorada mine have identified high-grade intercepts beyond the current resource area, indicating growth potential.

This exploration effort has enabled PAAS to more than replace production at that mine and provided a boost of 52.7 million ounces of silver in the inferred mineral resource total estimate. The company has also been successfully extending the lifespan of many of its operations, driven by ongoing exploration efforts across its portfolio.

PAAS’ MAG Silver Buyout Updates

On Sept. 4, 2025, Pan American Silver completed its previously stated acquisition of MAG Silver Corp. As part of the deal, Pan American Silver gained a 44% stake in the Juanicipio project, which is a large-scale, high-grade silver mine in Zacatecas operated by Fresnillo plc. The Juanicipio mine is expected to produce 14.7-16.7 million ounces of silver in 2025.

The transaction also adds the full ownership of the Larder exploration project and a full earn-in interest in the Deer Trail exploration project to PAAS’s portfolio. The addition of these assets will contribute significantly to Pan American Silver’s production, reserves and cash flow.

This move boosts Pan American’s position as one of the leading silver producers globally and significantly strengthens the company’s industry-leading silver reserve base.

PAAS Stock’s Price Performance

In the past year, PAAS shares have surged 76.6% compared with the industry's 54.5% growth.

Pan American Silver’s Zacks Rank & Stocks to Consider

The company currently has a Zacks Rank of 3 (Hold). 

Some better-ranked stocks  from the basic materials space are The Mosaic Company MOS, Agnico Eagle Mines AEM and Carpenter Technology Corporation CRS. MOS and AEM flaunt a Zacks Rank #1 (Strong Buy), and CRS has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The consensus estimate for Agnico Eagle Mines’ 2025 earnings is pegged at $6.94 per share. The estimate indicates a year-over-year surge of 64.1%. It has an average trailing four-quarter earnings surprise of 10%. Agnico Eagle Mines’ shares have soared 79.1% in a year.

The Zacks Consensus Estimate for Mosaic Company’s 2025 earnings is pegged at $3.17 per share, indicating year-over-year growth of 60.1%. Mosaic Company shares gained 31.5% last year.

Carpenter Technology has an average trailing four-quarter earnings surprise of 8.4%. The Zacks Consensus Estimate for CRS’s 2025 earnings is pegged at $9.36 per share. Its shares surged 68% last year.

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This article originally published on Zacks Investment Research (zacks.com).

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