Pan American Silver Sees 116% Jump in Realized Silver Price
Pan American Silver's average realized silver price more than doubled in the second quarter of 2026 to $70.97 per ounce, a year-over-year increase of approximately 116%. This significant surge in precious metal prices helped boost financial results, with attributable free cash flow reaching $344 million, up from $234 million in the same period last year.
The company's revenue increased to $1.124 billion from $812 million year-over-year, while attributable revenue, which includes Pan American's 44% interest in the Juanicipio mine, reached $1.268 billion. Attributable cash flow from operations was $418 million, with reported operating cash flow at $320 million after income taxes and working capital use.
Pan American also returned a record $300 million to shareholders through dividends and share repurchases in the second quarter. The company's President and Chief Executive Officer, Michael Steinmann, stated that Pan American 'delivered another quarter of strong financial results' and is 'delivering on the enhanced shareholder return framework we announced in May.'