logo
  

Pan American Silver Slips To Loss In Q2

Pan American Silver Corp. (PAAS, PAAS.TO) reported a second quarter net loss of $173.6 million or $0.83 per basic share, compared to net income of $71.24 million or $0.34 per basic share in the prior year. The latest quarter result impacted by a pre-tax impairment charge of $99.1 million recorded for Dolores and $62.8 million in net realizable value (NRV) inventory adjustments, primarily at Dolores.

Adjusted loss for the latest quarter was $6.5 million or $0.03 per share.

The company reported Silver production of 4.5 million ounces and gold production of 128.3 thousand ounces.

Revenue for the quarter was $340.47 million, down from $382.13 million in the previous year. The latest quarter result included a negative $9.3 million adjustment on open concentrate shipments, largely related to the decline in metal prices towards the end of the second quarter 2022. Revenue in the latest quarter excluded inventory build-ups of 34.2 thousand ounces of silver and 8.5 thousand ounces of gold.

The company declared a cash dividend of $0.11 per share, payable on or about September 2, 2022, to holders of record of Pan American's common shares as of the close on August 22, 2022.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

RELATED NEWS
Follow RTT