Pan American Silver Reports Record Net Earnings and Raises Dividend by 20% in Q2 2025

Published: Aug 7, 2025 22:14

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On August 6th, Pan American Silver announced record Q2 2025 net earnings of $189.6 million ($0.52 per share), driven by strong mine operating earnings of $273.3 million. Revenue reached $811.9 million, with silver and gold production totaling 5.1 million ounces and 178.7 thousand ounces, respectively.

Free cash flow hit an all-time high of $233.0 million, boosting the company’s cash balance to $1.1 billion. Pan American plans to invest $500 million toward its acquisition of MAG Silver, with the Juanicipio mine expected to immediately contribute to free cash flow and boost silver output by ~35% annually.

The company declared a 20% increase in its quarterly dividend to $0.12 per share and repurchased 459,058 shares during the quarter. Pan American reaffirmed its 2025 production and cost guidance. Total available liquidity stood at $1.86 billion as of June 30, 2025.

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