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Pan American Silver Corp (NYSE: PAAS) |
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Pan American Silver Corp Outlook |
On January 17 2024 the Pan American Silver Corp provided following guidance
Pan American Silver Corp. has released its preliminary production results for the year 2023 and provided guidance for the year 2024. The company's 2023 production results have been positively impacted by the addition of four producing mines as a result of its acquisition of Yamana Gold Inc. This acquisition was completed on March 31, 2023. As a result, Pan American's annual consolidated production results have been boosted, and individual production results from Jacobina, El Peon, and Minera Flori have also seen improvements.
Looking ahead to 2024, Pan American Silver Corp. has provided guidance based on the current conditions and projections. The company is optimistic about its production potential and anticipates continued growth and success in the coming year. These preliminary estimates serve as a valuable reference for investors and stakeholders and provide insight into Pan American's projected performance in the future.
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On November 7 2023 the Pan American Silver Corp provided following guidance
o be slightly higher than the high end of the ranges, said Michael Steinmann, President and CEO of Pan American.
During Q3 2023, Pan American produced 4.1 million ounces of silver, which is within the guidance range of 4.0 to 4.6 million ounces. Gold production for the quarter was 70.2 thousand ounces, also within the guidance range of 65 to 75 thousand ounces.
The company's consolidated cash cost per silver ounce for Q3 2023 was $10.25, slightly higher than the high end of the guidance range of $9.50 to $10.00. Consolidated all-in sustaining costs (AISC) per silver ounce were $15.80, within the guidance range of $13.50 to $16.00.
The Gold Segment's cash cost per gold ounce for the quarter was $700, within the guidance range of $650 to $700. Gold Segment AISC per ounce were $900, also within the guidance range of $850 to $900.
In terms of financial results, Pan American reported revenues of $250 million for Q3 2023, a slight decrease compared to the previous quarter. The decrease was primarily due to lower metal prices, partially offset by higher gold sales volumes.
Net earnings for the quarter were $20 million, compared to $25 million in the previous quarter. The decrease was primarily due to higher production costs and lower metal prices.
Pan American's cash and cash equivalents at September 30, 2023, were $350 million, an increase compared to the previous quarter. The increase was mainly driven by higher operating cash flows.
Looking ahead, Pan American reaffirmed its guidance for the full year 2023. The company expects to produce between 18.5 and 20 million ounces of silver and between 260 and 270 thousand ounces of gold. Consolidated cash costs per silver ounce are expected to be between $9.50 and $10.00, while AISC per silver ounce are expected to be between $13.50 and $16.00.
In summary, Pan American reported solid results for Q3 2023, with production and financial metrics within the guidance ranges. The company remains confident in its ability to meet its full-year production targets and maintain competitive cash costs and AISC.
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