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Pan American Silver Corp.: Business Overview, Financials & Competitive Analysis

Pan American Silver is a producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina, with a 100% interest in the Escobal mine in Guatemala. The company b...

Analyst-debate audio for Pan American Silver Corp.

AskCyborg analysts argue the bull and bear cases for Pan American Silver Corp. across 11 stress-tested dimensions. Listen on your commute -- faster than reading the 30-page report.

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8/ 10Strong

Cyborg Score thesis

Leveraging strong commodity tailwinds and transformational M&A, Pan American Silver is positioned for continued cash generation...

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Industry Precious Metals Mining
3 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: September 14, 2026
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Pan American Silver Corp. Overview

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Pan American Silver is a producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina, with a 100% interest in the Escobal mine in Guatemala. The company benefits from historically elevated precious metals prices, positioning it as a key pure-play precious metals producer.

Strategic Profile

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Pan American Silver is undergoing a major transformation, highlighted by the acquisition of MAG Silver and the Juanicipio project. In Q3, the company generated record free-cash-flow of $251.7 million, easily covering the quarterly dividend of $0.14/share, demonstrating strong cash generation and shareholder returns.

Competitive Landscape

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Key competitors include Coeur Mining Inc., Wheaton Precious Metals Corp., and First Majestic Silver Corp. Pan American Silver differentiates through its diversified asset base across the Americas, recent MAG Silver acquisition, and improving operational efficiency metrics.

Industry Context

Pan American Silver Corp. operates in Precious Metals Mining.

Key facts

Founded: 1979 · Headquarters: Vancouver, Canada · Market cap: $24.4B

What the analysts stress-tested

The top findings that survived the multi-agent debate for Pan American Silver Corp..

  • Silver prices have surged to record levels in early 2026, exceeding $100 per ounce
  • PAAS reached its all-time high on Jan 26, 2026 with the price of 95.39 CAD
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Recent developments

Material events tracked by the AskCyborg corpus.

  • Feb 2026Silver prices breach $100 per ounce, reaching blowout levels amid global economic uncertainty
  • Feb 2026PAAS stock reaches all-time highs driven by precious metals rally
  • +1 moreTrack every material event for Pan American Silver Corp. as it happens. Explore monitoring →
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

Coeur MiningGold and silver mining operations→Wheaton Precious MetalsPrecious metals streaming company→First Majestic SilverPrimary silver mining producer→

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Industry context

Pan American Silver Corp. operates in Precious Metals Mining. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does Pan American Silver Corp. do?+
Pan American Silver is a producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina, with a 100% interest in the Escobal mine in Guatemala. The company b...
What is Pan American Silver Corp.'s Cyborg Score?+
Pan American Silver Corp. has a Cyborg Score of 8/10 (Strong). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Pan American Silver Corp.'s main competitors?+
Named competitors include Coeur Mining, Wheaton Precious Metals, First Majestic Silver. The full competitive landscape is in the AskCyborg report.
How can I get the full Pan American Silver Corp. research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Pan American Silver Corp. research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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More Precious Metals Mining research

Companies in the same sector and named competitors, ranked by Cyborg Score.

8Coeur Mining, Inc.8Fortuna Mining Corp.8Fresnillo plc8Pan American Silver Corp.7China Gold International Resources Corp. Ltd.7Hochschild Mining PLC7Northern Star Resources Limited7SSR Mining Inc.7Zhaojin Mining Industry Company Limited