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A Taste of Things to Come

Pan American Silver Corp. (PAAS) has seen an encouraging start to the year with Q124 silver and gold production in line with management expectations and costs for both segments below its quarterly guidance. Q1 is typically one of the slowest quarters for PAAS and the company’s maintained guidance points to significant improvements in production and costs in H224. This should be supported by the current strength in commodity prices. Edison Group has increased their FY24 EBITDA estimate by 25% and upgraded their valuation from US$22.2/share to US$23.4. Edison believe there could be further upside to the share price if commodity prices remain at elevated levels and the company delivers on its operational guidance in FY24.

14 May 2024


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