Business
Pan American Silver Reports Record Fourth Quarter and Full Year 2025 Financial Results; Record Cash Flow From Operations of $554 Million in the Fourth Quarter; Dividend Increased by 29%
VANCOUVER, British Columbia, February 18, 2026--Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American" or the "Company") reports fourth quarter ("Q4 2025") financial results and audited financial results for the year ended December 31, 2025 ("FY 2025"). The Company will host a conference call and webcast on February 19, 2026 to discuss the results; details provided further in this news release.
About this update from Pan American Silver Corp.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":1024,"height":512,"url":"https://media.zenfs.com/en/business-wire.com/d8465f17244ac6e7a66ad0c22b0377c9"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/QIH.zSBho7IPB5JPPFJByQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQ4MDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/d8465f17244ac6e7a66ad0c22b0377c9","width":960,"height":480},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/SqoX9vHuWtdO6QDvHkrEGg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIwNDg7aD0xMDI0O2NmPXdlYnA-/https://media.zenfs.com/en/business-wire.com/d8465f17244ac6e7a66ad0c22b0377c9","width":1024,"height":512}},"lazy":false},{"type":"text","content":"All amounts expressed in U.S. dollars unless otherwise indicated.","length":65,"tagName":"p","attribs":{}},{"type":"text","content":"Unaudited tabular amounts are in millions of U.S. dollars and thousands of shares, except per ounce amounts, unless otherwise noted.","length":132,"tagName":"p","attribs":{}},{"type":"text","content":"VANCOUVER, British Columbia, February 18, 2026--(BUSINESS WIRE)--Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American" or the "Company") reports fourth quarter ("Q4 2025") financial results and audited financial results for the year ended December 31, 2025 ("FY 2025"). The Company will host a conference call and webcast on February 19, 2026 to discuss the results; details provided further in this news release.","length":466,"tagName":"p"},{"type":"text","content":""Pan American delivered record financial results across the board in 2025, reflecting strong operating margins with production and costs in line or better than guidance and higher realized silver and gold prices," said Michael Steinmann, President and Chief Executive Officer.","length":286,"tagName":"p"},{"type":"text","content":""Looking ahead to 2026, we expect another strong year of cash flow generation following the record $554 million of operating cash flow generated in Q4 2025 alone. Attributable silver production is forecast to increase by approximately 14% over 2025, with silver segment all-in sustaining costs of $15.75 to $18.25 per ounce, driven in large part by the contribution from the Juanicipio mine. With $1.3 billion in cash and s...