Pan American Silver: Longing For A Convincing Rebound


  • Pan American Silver Corp. reported a loss per share of $0.34 in the third quarter of 2022, or $71.53 million.
  • Furthermore, the company is about to get bigger with the Yamana Gold merger.
  • I recommend accumulating Pan American Silver at or between $15 and $16 with potential lower support at $13.75, or selling about 60% of your position, starting at $17.5 and gradually selling to $20.1.
  • Looking for a helping hand in the market? Members of The Gold And Oil Corner get exclusive ideas and guidance to navigate any climate. Learn More »

Gold and silver



Vancouver-based Pan American Silver Corp. (NASDAQ:PAAS) released its third-quarter 2022 results on November 9, 2022.

Note: I have been covering PAAS regularly quarterly since June 2019. This article is an update of my preceding article, published on August


PAAS 3Q22 Takeaway (PAAS Presentation)


PAAS Assets to be acquired from AUY (PAAS Presentation)

Data by YCharts


PAAS Quarterly production gold and silver history (Fun Trading)

PAAS's gold and silver production for 3Q22 was within the guidance range. As we can see above, production was weaker YoY.


PAAS Production gold and silver per mine 3Q22 (Fun Trading)

Morococha mine has been placed on care and maintenance.


PAAS 3Q22 co-products production (Fun Trading)

All-in Sustaining Costs ("AISC") per silver ounce increased to $17.97. Gold AISC was very high this quarter at $1,614 per ounce.

PAAS Quarterly AISC 2Q22 versus 3Q22 (Fun Trading)


PAASF TA Chart short-term (Fun Trading StockCharts)


PAAS 2022 Guidance (PAAS Presentation)


PAAS Quarterly revenues history (Fun Trading)


PAAS Quarterly Free cash flow history (Fun Trading)

Note: Generic free cash flow is the cash flow from operation minus CapEx.


PAAS Free cash flow allocation (PAAS Presentation)


PAAS Quarterly Cash versus Debt history (Fun Trading)


PAAS Balance sheet 3Q22 (PAAS Presentation)


PAAS Pro-forma balance sheet (PAAS Presentation)


PAAS TA Chart short-term (Fun Trading StockCharts)

Join my "Gold and Oil Corner" today, and discuss ideas and strategies freely in my private chat room. Click here to subscribe now.

You will have access to 57+ stocks at your fingertips with my exclusive Fun Trading's stock tracker. Do not be alone and enjoy an honest exchange with a veteran trader with more than thirty years of experience.

"It's not only moving that creates new starting points. Sometimes all it takes is a subtle shift in perspective," Kristin Armstrong.

Fun Trading has been writing since 2014, and you will have total access to his 1,988 articles and counting.

This article was written by

Fun Trading profile picture
As an experienced investor, I will help you stay on task more efficiently.

I am a former test & measurement doctor engineer (geodetic metrology). I was interested in quantum metrology for a while.

I live mostly in Sweden with my loving wife.

I have also managed an old and broad private family Portfolio successfully -- now officially retired but still active -- and trade personally a medium-size portfolio for over 40 years.

“Logic will get you from A to B. Imagination will take you everywhere.” Einstein.

Note: I am not a financial advisor. All articles are my honest opinion. It is your responsibility to conduct your own due diligence before investing or trading.

Disclosure: I/we have a beneficial long position in the shares of PAAS either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I trade short-term PAAS, as indicated in my article. I also own a long-term position.

Recommended For You

Comments (32)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.