Pan American Silver shares rise 5.11% premarket after exceeding 2025 production guidance and providing strong 2026 outlook.

Pan American Silver surged 5.11% in premarket trading after announcing it exceeded 2025 production guidance with 22.8 million ounces of attributable silver and reported a $1.319 billion cash balance as of December 31, 2025. The company also provided 2026 guidance, forecasting 25–27 million ounces of silver production and outlined plans to advance growth projects, including La Colorada Skarn. The upbeat results, combined with strong operational performance at the recently acquired Juanicipio mine and favorable macroeconomic tailwinds for silver, fueled investor optimism about the company’s growth potential and capital return strategy.