Pan American Silver (PAAS) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Pan American Silver (PAAS) reported $1.18 billion in revenue for the quarter ended December 2025, representing a year-over-year increase of 44.6%. EPS of $1.11 for the same period compares to $0.35 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.11 billion, representing a surprise of +6%. The company delivered an EPS surprise of +23.64%, with the consensus EPS estimate being $0.90.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Pan American Silver performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Ounce Production - Dolores Operation - Silver: 111.00 Koz versus 109.26 Koz estimated by eight analysts on average.
• Ounce Production - Dolores Operation - Gold: 5.40 Koz compared to the 4.82 Koz average estimate based on eight analysts.
• Ounce Production - Shahuindo Operation - Gold: 32.70 Koz compared to the 32.95 Koz average estimate based on eight analysts.
• Ounce Production - Timmins Operation - Gold: 25.90 Koz versus 25.91 Koz estimated by eight analysts on average.
• Average Realized Prices per ounce - Silver: $58.16 compared to the $54.54 average estimate based on eight analysts.
• Average Realized Prices per ounce - Gold: $4,186.00 versus $4,132.52 estimated by eight analysts on average.
• Cash Costs Per Ounce - Silver Segment: $4.32 versus the eight-analyst average estimate of $3.58.
• Cash Costs Per Ounce - Gold Segment: $1,304.00 compared to the $1,299.15 average estimate based on eight analysts.
• AISC per Ounce - Silver: $9.51 compared to the $10.57 average estimate based on eight analysts.
• AISC per Ounce - Gold: $1,699.00 versus $1,676.97 estimated by eight analysts on average.
• Average silver grade grams per tonne - La Colorada Operation: 301.60 Gm/Ton versus 289.29 Gm/Ton estimated by eight analysts on average.
• Average silver grade grams per tonne - Huaron Operation: 113 compared to the 120 average estimate based on eight analysts.

View all Key Company Metrics for Pan American Silver here>>>

Shares of Pan American Silver have returned -4.3% over the past month versus the Zacks S&P 500 composite's -1.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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

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