Fly News Breaks for January 16, 2020
Jan 16, 2020 | 06:16 EDT
BofA analyst Lawson Winder downgraded Pan American Silver to Underperform from Neutral with an unchanged $20.50 price target. The analyst cites the 62% run-up in the stock during 2019, and while shares have sold off modestly year-to-date, Winder believes that they remain "historically expensive". The analyst further notes that Pan American's 2020 production and capex guidance announced yesterday were a "disappointment".
News For PAAS From the Last 2 Days
Jan 19, 2022 | 06:06 EST
Reports preliminary Q4 gold production 156,700 ounces. The company said, "Pan American Silver is currently experiencing the effects of the latest wave of COVID-19 infections, which has led to reduced workforce levels. At the present time, it is too early to determine what impact, if any, the current COVID-19 situation may have on operations in the first quarter or full-year 2022. Consequently, Pan American Silver has decided to postpone issuing its 2022 production and costs guidance. We intend to provide 2022 guidance no later than February 23, 2022, when Pan American Silver releases its audited results for Q4 and FY 2021."
Jan 19, 2022 | 06:05 EST
Pan American Silver announced its preliminary production results for FY21. Consolidated silver production in 2021 of 19.2M ounces was within the revised guidance range of 19M to 20M ounces provided on November 9, 2021. Consolidated gold production in 2021 of 579.3 thousand ounces was within the revised guidance range of 560,000 to 588,000 ounces provided on November 9, 2021. Dolores achieved record gold production of 160,100 ounces in 2021. "Production improved in 2021 over 2020, although continued to be constrained by reduced workforce deployment levels due to the COVID-19 pandemic. We are pleased to see progressive production ramp up at La Colorada during the fourth quarter of 2021, following the advances on the upgrades to the ventilation circuit and ground support programs," said Michael Steinmann, president and CEO.