Pan American Silver Corp. Common Stock (PAAS)

FairStock Score: 83/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for understandable businesses with durable economics, conservative balance sheets, and a price that leaves a margin of safety. Pan American Silver is understandable: it mines silver and gold across the Americas, with operations in several countries. But a miner is a price-taker. It has no wide moat; profits rise and fall with metal prices and cost inflation. The financial picture is better than many commodity producers. In the latest reported quarter, fiscal Q2 2026, revenue was $1.1B, net income was $304.0M, and the net margin was 27.05%. The supplied growth rates are high, but mining growth is rarely smooth. Debt/equity is only 0.11, Altman Z-Score is 5.37, ROE is 22.41%, and ROCE is 11.77% on FairStock's calculations. TTM free cash flow is $1.3B, a 5.7% FCF yield. At the 2026-10-13 close of $44.53, FairStock shows a P/E of 13.17, P/B of 2.52, EV/EBITDA of 8.96, and PEG of 0.08. The Graham Number is $36.63, so the price sits about 21.57% above that conservative estimate—no margin of safety. Piotroski is 6/9. I would call this a fair-to-slightly-full price for a cyclical, volatile business, not a classic bargain.

In plain English: Pan American Silver is a mining company that digs up silver and gold in several countries. The business looks financially strong right now: its latest reported quarter showed a solid profit and it carries little debt. But mining profits depend heavily on metal prices, and at $44.53 the stock is above the conservative value estimate of $36.63, so it looks fairly priced rather than cheap.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer