WallStSmart
PAAS

Pan American Silver Corp.

NYSE: PAAS · BASIC MATERIALS · GOLD

$51.28
-2.12% today

Updated 2026-04-29

Market cap
$21.64B
P/E ratio
20.03
P/S ratio
5.98x
EPS (TTM)
$2.56
Dividend yield
0.88%
52W range
$22 – $70
Volume
6.8M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Pan American Silver Corp. (PAAS) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$51.28
Consensus
$57.75
+12.62%
2030 Target
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—
DCF
—
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9 analysts:
6 Buy2 Hold0 Sell

Management guidance

Pan American Silver plans a $1.9 billion self-funded expansion of La Colorada (2026-2031) targeting 19.1 million ounces of silver annually at peak production. The company forecasts significant production growth from current 22.8M oz (2025) driven by Juanicipio ramp and La Colorada expansion, with management intending to fund expansion entirely from operating cash flow.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$267.70
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Base case (2030)
$161.73
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Bear case (2030)
$105.96
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Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)
Revenue$2.3B$2.8B$3.7B$4.9B$5.2B$5.7B
Revenue growth—21.7%30.6%35.9%6.5%8.4%
EPS$0.11$0.91$2.44$3.71$3.95$4.35
P/S ratio———12.0x12.0x12.0x
Implied price———$139.43$150.58$161.73

Catalysts & risks

Growth catalysts
+ La Colorada $1.9B expansion completion (2031) enabling 19.1M oz/year silver production at world-scale
+ Juanicipio mine production ramp-up and optimization through 2026-2027
+ Silver supply deficit and rising demand from photovoltaics, electric vehicles, and defense applications
+ Discovery of four new high-grade silver veins at La Colorada extending mine life
+ Self-funded expansion from operating cash flow eliminates dilution risk
Key risks
- Mexico political instability and cartel violence impacting mining operations and permitting
- Silver price volatility (currently elevated at $83/oz, historical norm $20-30/oz)
- La Colorada expansion execution risk ($1.9B capex, 6-year timeline, permitting dependencies)
- Operating leverage to commodity prices; margin compression if silver prices decline 30%+
- Key mine geopolitical risks (Mexico operations represent majority of silver production)

Methodology

Pan American Silver Corp.'s forward estimates are derived from AI-powered research synthesis combining analyst consensus from 9 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.