Pan American Silver’s Revenue Breakdown (2016-2023)
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This statistic highlights Pan American Silver’s Revenue Breakdown, split between Copper, Silver (concentrate and refined), Lead, Zinc and Refined Gold, reported from Q1 2016 onwards.
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This statistic highlights Pan American Silver’s Revenue Breakdown, split between Copper, Silver (concentrate and refined), Lead, Zinc and Refined Gold, reported from Q1 2016 onwards.
Pan American Silver’s Revenue Breakdown
| Product Category | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 |
| Copper concentrate | 28,405,000 | 11,648,000 | 8,402,000 | 16,641,000 | 15,000,000 |
| Lead concentrate | 48,922,000 | 36,402,000 | 33,938,000 | 48,411,000 | 53,200,000 |
| Refined silver and gold | 317,397,000 | 250,007,000 | 258,629,000 | 280,760,000 | 278,900,000 |
| Silver concentrate | 16,883,000 | 14,209,000 | 11,941,000 | 13,782,000 | 13,700,000 |
| Zinc concentrate | 28,281,000 | 28,203,000 | 25,979,000 | 15,878,000 | 29,500,000 |
| Total | 439,888,000 | 340,469,000 | 338,889,000 | 375,472,000 | 390,300,000 |
Product-wise Revenue Breakdown:
In Q1 2023, Pan American Silver reported a total revenue of $390.3 million, distributed among various product categories as follows:
Refined Silver and Gold
71.46% ($278.9 million) – Refined silver and gold products constituted the largest share of revenue, reflecting the significance of precious metals in the company’s overall performance.
Lead concentrate
13.63% ($53.2 million) – Lead concentrate sales closely followed, contributing significantly to the total revenue.
Zinc concentrate
7.56% ($29.5 million) – Zinc concentrate revenue represented a notable portion of the company’s income.
Copper concentrate
3.84% ($15 million) – Copper concentrate sales made a modest contribution to the total revenue.
Silver concentrate
3.51% ($13.7 million) – Silver concentrate products constituted a smaller but still noteworthy part of the company’s revenue.
Q1 2023 Performance Analysis
Pan American Silver’s Q1 2023 revenue witnessed a significant decrease of $49.6 million compared to Q1 2022. This decline was attributed to two main factors:
1.Decreased Metal Sales Quantities
The company experienced quarter-over-quarter decreases in gold, silver, and copper sales by 10%, 9%, and 49%, respectively. Factors such as mine care and maintenance, limited production at specific mines, and lower gold production contributed to the decrease in metal quantities sold.
2.Lower Metal Prices, Except Gold
Realized prices for silver, zinc, and copper declined by 5%, 18%, and 9%, respectively. However, gold prices remained stable.
The company faced challenges in Q1 2023 due to decreased production levels and lower metal prices. Notably, the Morococha mine was placed on care and maintenance, while mining activities at the Manantial Espejo mine were completed. Despite these challenges, zinc sales increased due to normalized shipments following previous delays.
Pan American Silver Corporation’s revenue breakdown highlights the importance of refined silver and gold as the primary revenue drivers. However, the company faced challenges in Q1 2023, experiencing a decline in metal quantities sold and lower metal prices, except for gold. Pan American Silver continues to navigate these challenges while exploring opportunities to optimize its operations and enhance profitability.
Company Overview
Pan American Silver Corporation, headquartered in Vancouver, British Columbia, is a renowned mining company specializing in the extraction of silver and gold. With a global presence spanning Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil, the company engages in a wide range of activities, including exploration, development, extraction, processing, and refining.
Listed on both the Toronto Stock Exchange (Symbol: PAAS) and the New York Stock Exchange (Symbol: PAAS), Pan American Silver is committed to sustainable development, innovative practices, and fostering strong relationships with stakeholders. Striving to be recognized as the world’s premier silver mining company, it focuses on generating sustainable profits, replenishing mineral reserves, and upholding ethical business practices, all while showcasing excellence in discovery, engineering, and innovation.
Pan American Silver caters to a diverse customer base, which includes industrial buyers, precious metal traders, refiners, smelters, bullion dealers, and retailers who rely on the company for their silver and gold supply needs. However, the company faces various market risks, such as metal price volatility, foreign exchange rate exposure, regulatory and environmental factors, as well as political and social risks, which can significantly influence its revenue across different product lines.
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