Pan American Silver Corp. (PAAS,PAAS.TO) reported a third quarter net earnings of $57.1 million or $0.16 per basic share compared to a net loss of $20.6 million or $0.05 per basic share in the previous year.
Quarterly adjusted earnings per basic share of $0.32 compared to $0.01 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.27 per share for the third quarter. Analysts' estimates typically exclude special items.
Revenue for the third quarter was $716.1 up from $616.3 million in the prior year.
The company reaffirmed its 2024 Operating outlook for annual production, Cash Costs and AISC, and capital expenditures. The company expects 2024 silver and gold production to be more heavily weighted to the fourth quarter of 2024 than originally indicated in its 2024 quarterly operating outlook, and annual silver production to be towards the low end of the annual guidance range.
A cash dividend of $0.10 per common share with respect to third quarter 2024 was declared on November 5, 2024, payable on or about November 29, 2024, to holders of record of Pan American's common shares as of the close of markets on November 18, 2024.
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