Investing.com -- Pan American Silver Corp . (NYSE:PAAS) (TSX:PAAS) reported better-than-expected first quarter earnings and revenue on Thursday, sending shares up 3.3% in after-hours trading.
The precious metals miner posted adjusted earnings of $0.42 per share for Q1 2025, significantly beating analyst estimates of $0.16 per share. Revenue came in at $773.2 million, also topping expectations of $668.96 million.
Pan American produced 5.0 million ounces of silver and 182,200 ounces of gold in the quarter. The company benefited from higher metal prices, with realized silver prices averaging $31.25 per ounce, up from $22.61 a year earlier. Gold prices averaged $2,868 per ounce, compared to $2,078 in Q1 2024.
"Pan American has had a strong start to 2025, delivering another quarter of solid operating results," said Michael Steinmann, President and CEO. "Lower costs and higher metal prices resulted in a record $250.8 million of mine operating earnings and $112.6 million in free cash flow."
The company maintained its full-year 2025 production guidance of 20.0-21.0 million ounces of silver and 735,000-800,000 ounces of gold.
Pan American ended the quarter with $923.0 million in cash and short-term investments, an increase of $35.7 million from the end of 2024. The company declared a quarterly dividend of $0.10 per share.
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