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Tue, Jan. 19, 12:58 PM
- Pan American Silver (PAAS -5.9%) says it set new annual records for silver and gold production during 2015, but shares are sharply lower along with precious metal prices.
- PAAS says it produced 6.79M oz. of silver during Q4 to set a new annual record of 26.12M oz., and 48.2K oz. of gold during Q4 to also set a new annual gold production record of 183.7K oz.
- For 2016, PAAS foresees annual silver production declining slightly to 24M-25M oz., while gold production is expected at 175K-185K oz.
Dec. 28, 2015, 12:57 PM
- Much like oil/gas firms (hurt by fresh oil price declines), coal, gold, and silver miners are having a rough day. End-of-year tax and fund selling could be playing a role. Comex gold is down a moderate 0.6%, and Comex silver down 3.2%. The S&P is down 0.5%.
- Notable coal decliners: Peabody Energy (BTU -13.6%), Westmoreland Coal (WLB -6.4%), CONSOL Energy (CNX -9%), and Cloud Peak Energy (CLD -4%).
- Notable gold decliners: Goldcorp (GG -3.5%), Barrick Gold (ABX -3.1%), Newmont Mining (NEM -4%), Kinross Gold (KGC -3.8%), Gold Fields (GFI -6.7%), AngloGold Ashanti (AU -5%), Harmony Gold (HMY -6.5%), and Sibanye Gold (SBGL -4.2%).
- Notable silver decliners: Silver Wheaton (SLW -3.8%), Pan American Silver (PAAS -3.6%), First Majestic Silver (AG -6.9%), Tahoe Resources (TAHO -4.9%), and Coeur Mining (CDE -5.8%).
- ETFs: GLD, SLV, IAU, AGQ, PSLV, PHYS, USLV, SIVR, SGOL, ZSL, UGL, DGP, GTU, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, OUNZ, DGL, DBS, DGZ, DGLD, USV, GEUR, UBG, GYEN, TONS, QGLDX
Dec. 14, 2015, 8:35 AM
- Pan American Silver (NASDAQ:PAAS) says CEO Geoff Burns will retire effective Dec. 31, and President Michael Steinmann will become the new President and CEO effective Jan. 1.
- Steinmann has led PAAS's geology and exploration activities since joining the company in 2004; he became Executive VP in 2008 and he took charge of strategic business development activities in 2011.
- Burns, who has served as President and CEO since 2004, will remain on the Board until the next annual general meeting in May 2016.
- PAAS -1.5% premarket.
Nov. 12, 2015, 11:37 AM
- Pan American Silver (PAAS +0.5%) reports a smaller than expected Q3 loss of $0.06/share on a 10% Y/Y drop in revenues to $159M, as prices for metals produced by the company fell significantly.
- PAAS says its Q3 silver production totaled 6.61M oz., 7% higher than a year ago, and gold production totaled a record 53.6K oz., up 57% Y/Y.
- For full-year 2015, PAAS reaffirms its silver production forecast of 25.5M-26.5M oz. and raises its gold production outlook to 175K-180K oz. from its original forecast of 165K-175K oz.
- Maintains its annual production forecasts of 37K-39K metric tons of zinc, 13K-13.5K metric tons of lead, and 14K-15K metric tons of copper.
Nov. 12, 2015, 8:03 AM
- Pan American Silver (NASDAQ:PAAS): Q3 EPS of -$0.06 beats by $0.06.
- Revenue of $159.4M (-10.6% Y/Y) misses by $4.75M.
Nov. 11, 2015, 5:30 PM
Oct. 20, 2015, 5:40 PM
Sep. 19, 2015, 8:25 AM
- Metal and mining stocks have been hit hard in recent months, but analysts at FBR Capital argue that there are still attractive names to own in the sector.
- Companies with exposure to the zinc and met coal markets look appealing, FBR says, as supply reductions could act as a positive catalyst for prices; Teck Resources (NYSE:TCK) is the firm's top pick there, with Horsehead Holding (NASDAQ:ZINC) the favorite small-cap idea.
- The firm sees "no structural turnaround for domestic thermal coal," but thinks the rate of decline will begin to slow next year, justifying Outperform ratings on Alliance Resource Partners (NASDAQ:ARLP) and Westmoreland Coal (NASDAQ:WLB); Cloud Peak Energy (NYSE:CLD) and Joy Global (NYSE:JOY) are rated Underperform.
- FBR is fairly upbeat on steel names, initiating SunCoke Energy (NYSE:SXC) and SunCoke Partners (NYSE:SXCP) at Outperform, as SunCoke’s long-lived coke assets are able to generate strong margins “in almost any U.S. steel environment"; Cliffs Natural Resources (NYSE:CLF) is rated Market Perform.
- The copper market will remain in surplus through 2017, FBR says, but it rates Southern Copper (NYSE:SCCO) at Outperform; Freeport McMoRan (NYSE:FCX) is rated Market Perform.
- Among precious metals miners, the firm prefers Pan American Silver (NASDAQ:PAAS) and Royal Gold (NASDAQ:RGLD), the latter "a diversified company with a solid balance sheet and attractive acquisition opportunities."
Sep. 2, 2015, 2:59 PM
- Pan American Silver (PAAS -0.9%) is upgraded to Sector Outperform from Sector Perform with an $11 price target, raised from $10, at Scotiabank, citing its strong balance sheet, healthy dividend yield, attractive valuation and promising expansion projects.
- The firm highlights PAAS's $275M in cash and short-term investments at the end of Q2 along with $470M in working capital and just $62M in debt.
- Scotia also notes expansion projects that are driving margin improvement, with the La Colorada and Dolores mine expansions in Mexico expected to bring consolidated all-in sustaining costs down to $9.76/oz. in 2017 and $9.03/oz. in 2018.
Aug. 14, 2015, 5:36 AM
- Pan American Silver (NASDAQ:PAAS) declares C$0.05/share quarterly dividend, in line with previous.
- Forward yield 2.23%
- Payable Sept. 8; for shareholders of record Aug. 25; ex-div Aug. 21.
Aug. 13, 2015, 10:47 PM
- Pan American Silver (NASDAQ:PAAS): Q2 EPS of -$0.05 beats by $0.04.
- Revenue of $174.2M (-13.3% Y/Y) misses by $4.53M.
Aug. 12, 2015, 5:35 PM
Aug. 12, 2015, 3:46 PM
- China's moves to devalue the yuan and the potential for further devaluation have favorably shifted the risk/reward for stocks of precious metal miners, Deutsche Bank says as it upgrades Newmont Mining (NEM +6.1%) and Barrick Gold (ABX +5.2%) to Buy from Hold, citing improving balance sheets and share pullbacks the firm views as overdone compared to the move in gold prices.
- The firm notes 82% of ABX's and NEM's estimated 2016 revenues come from gold; Kinross Gold (KGC +2.8%) and Goldcorp (GG +4.9%) derive a respective 97% and 73% of their expected 2016 revenues from gold.
- Among silver miners, Deutsche Bank upgrades Pan American Silver (PAAS +6.1%) and Hecla Mining (HL +7.6%) to Buy from Hold, citing their cost exposures outside the U.S. and their respective 26% and 38% gold exposure.
May 12, 2015, 12:53 AM
- Pan American Silver (NASDAQ:PAAS) declares C$0.05/share quarterly dividend, -60% decrease from prior dividend of $0.125.
- Forward yield 1.7%
- Payable June 2; for shareholders of record May 22; ex-div May 20.
May 12, 2015, 12:35 AM
- Pan American Silver (NASDAQ:PAAS): Q1 EPS of -$0.13 misses by $0.06.
- Revenue of $178.1M (-15.1% Y/Y) misses by $4.15M.
May 10, 2015, 5:35 PM
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Pan American Silver Corp is engaged in the production and sale of silver, gold and base metals including copper, lead and zinc as well as other related activities, including exploration, extraction, processing, refining and reclamation.
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