Equity Profile

PAAS

Pan American Silver Corp.

MaterialsGold$20.0B

Aug5Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Pan American Silver Corp. (PAAS) is a leading silver mining company focused on the exploration and production of silver and gold....

Key Metrics to Watch

EPS

Earnings per share (EPS) is a key indicator of profitability and will show how well the company managed costs and revenues this quarter.

N/A

Revenue

Revenue figures will provide insight into sales performance and demand for silver and gold, crucial for understanding market dynamics.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

PAAS Q2-2026 Earnings Preview

Context

Company Snapshot

Pan American Silver Corp. (PAAS) is a leading silver mining company focused on the exploration and production of silver and gold. With a market cap of $20 billion, it plays a significant role in the materials sector, particularly in the gold industry, which is influenced by global economic conditions and commodity prices.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+25.16%

Avg Stock Reaction

-0.38%

Last Quarter Recap

In Q1-2026, Pan American Silver reported an EPS of $1.09, slightly beating estimates by 2.54%. However, the stock experienced a minor decline of 1.15% the following day, indicating mixed market reactions.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, with expectations that the company may continue its trend of beating EPS estimates. However, the lack of revenue guidance raises concerns about overall performance.

Bull Case

If Pan American Silver can report strong EPS and show robust revenue growth, it could signal a recovery in demand for precious metals, driving the stock higher.

Bear Case

Conversely, if the company misses on EPS or shows weak revenue, it may indicate ongoing challenges in the market, leading to a negative reaction in the stock.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

The EPS figure is crucial as it will indicate the company's profitability and ability to manage costs effectively.

How does management view the current demand for silver and gold?

Management's insights on market demand will help investors gauge future revenue potential and overall market conditions.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for a strong earnings surprise due to improved operational efficiencies and rising silver prices.

Supporting Evidence

The company has a history of beating EPS estimates, with a 63% success rate over the last eight quarters.

Options are pricing a larger move than historical averages, indicating potential for significant volatility.

Recent trends in commodity prices suggest a rebound in demand for silver and gold, which could positively impact earnings.

Key Risk

If EPS comes in below $1.00, it could challenge the bullish narrative and lead to a reevaluation of growth prospects.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate centers around whether Pan American Silver can sustain its profitability amidst fluctuating commodity prices.

Bull Confirmed If

A reported EPS above $1.10 would confirm strong operational performance and investor confidence.

Bear Confirmed If

An EPS below $1.00 would raise concerns about profitability and market demand.

Pre-Earnings Positioning

Options Market

Implied Move

±5.37%

Historical Avg

±1.9%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±5.4% while PAAS has averaged ±1.9% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

61.5%

Calls (737K)P/C Ratio: 0.23Puts (94K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If the company beats expectations, history suggests a potential stock increase of about 0.05%, confirming positive market sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further commentary.

Miss

Should the company miss on EPS, the stock could decline by approximately 1.08%, reflecting investor disappointment.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

House only

Est. Notional

$50,001.00–$100,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on production costs and how they are being managed.
2Insights into market demand for silver and gold in the upcoming quarters.
3Management's outlook on global economic conditions affecting commodity prices.
4Details on any new exploration projects or acquisitions.
5Comments on operational efficiencies and cost-saving measures.

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Company Snapshot

Pan American Silver Corp. (PAAS) is a leading silver mining company focused on the exploration and production of silver and gold....

Key Metrics to Watch

EPS

Earnings per share (EPS) is a key indicator of profitability and will show how well the company managed costs and revenues this quarter.

N/A

Revenue

Revenue figures will provide insight into sales performance and demand for silver and gold, crucial for understanding market dynamics.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

PAAS Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+25.16%

Avg Stock Reaction

-0.38%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If Pan American Silver can report strong EPS and show robust revenue growth, it could signal a recovery in demand for precious metals, driving the stock higher.

Bear Case

Conversely, if the company misses on EPS or shows weak revenue, it may indicate ongoing challenges in the market, leading to a negative reaction in the stock.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

The EPS figure is crucial as it will indicate the company's profitability and ability to manage costs effectively.

How does management view the current demand for silver and gold?

Management's insights on market demand will help investors gauge future revenue potential and overall market conditions.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for a strong earnings surprise due to improved operational efficiencies and rising silver prices.

Supporting Evidence

The company has a history of beating EPS estimates, with a 63% success rate over the last eight quarters.

Options are pricing a larger move than historical averages, indicating potential for significant volatility.

Recent trends in commodity prices suggest a rebound in demand for silver and gold, which could positively impact earnings.

Key Risk

If EPS comes in below $1.00, it could challenge the bullish narrative and lead to a reevaluation of growth prospects.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate centers around whether Pan American Silver can sustain its profitability amidst fluctuating commodity prices.

Bull Confirmed If

A reported EPS above $1.10 would confirm strong operational performance and investor confidence.

Bear Confirmed If

An EPS below $1.00 would raise concerns about profitability and market demand.

Pre-Earnings Positioning

Options Market

Implied Move

±5.37%

Historical Avg

±1.9%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±5.4% while PAAS has averaged ±1.9% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

61.5%

Calls (737K)P/C Ratio: 0.23Puts (94K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If the company beats expectations, history suggests a potential stock increase of about 0.05%, confirming positive market sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further commentary.

Miss

Should the company miss on EPS, the stock could decline by approximately 1.08%, reflecting investor disappointment.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

House only

Est. Notional

$50,001.00–$100,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on production costs and how they are being managed.
2Insights into market demand for silver and gold in the upcoming quarters.
3Management's outlook on global economic conditions affecting commodity prices.
4Details on any new exploration projects or acquisitions.
5Comments on operational efficiencies and cost-saving measures.