Upcoming AWS Coverage on Silver Standard Resources Post-Earnings Results

LONDON, UK / ACCESSWIRE / November 22, 2016 / Active Wall St. announces its post-earnings coverage on Pan American Silver Corp. (NASDAQ: PAAS). The company released its third quarter fiscal 2016 (Q3 FY16) earnings on November 14, 2016. The Vancouver, Canada-based company reported a 47% y-o-y growth in its revenue which beat Wall Street's estimates. Register with us now for your free membership at: http://www.activewallst.com/register/.

One of Pan American Silver's competitors within the Silver space, Silver Standard Resources Inc. (NASDAQ: SSRI), reported on November 08, 2016, consolidated financial results for Q3 ended September 30, 2016. AWS will be initiating a research report on Silver Standard Resources in the coming days.

Today, AWS is promoting its earnings coverage on PAAS; touching on SSRI. Get our free coverage by signing up to:

http://www.activewallst.com/registration-3/?symbol=PAAS

http://www.activewallst.com/registration-3/?symbol=SSRI

Earnings Reviewed

During Q3 FY16, Pan American Silver reported total revenues of $233.65 million compared to $159.41 million in Q3 FY15. Total revenues for Q3 FY16 topped market expectations of $186.2 million. The year-over-year revenue growth was primarily due to higher metals prices and quantities sold - with the exception of copper - and positive variances in settlement adjustments on concentrate shipments.

The company reported net earnings of $43.44 million, or $0.28 per basic share, in Q3 FY16 versus net loss of $67.51 million, or $0.44 loss per basic share, in the prior year's comparable quarter. The company's adjusted earnings for Q3 FY16 came in at $36.96 million, or $0.24 per basic share, compared to adjusted loss of $9.31 million, or $0.06 loss per basic share. Wall Street had expected the company to report adjusted earnings of $0.13 per diluted share.

Production Numbers

The company's silver production for Q3 FY16 was 6.36 million ounces compared to 6.61 million ounces in Q3 FY15. The fall in production figures reflected anticipated production declines at Alamo Dorado, as the mine reached the end of its life, and at Dolores due to lower grades from mine sequencing, which was offset by higher silver production at La Colorada, Morococha, and Huaron mines.

In Q3 FY16, gold production came in at 50.4 thousand ounces compared to 53.62 thousand ounces in the year ago quarter. Meanwhile, Zinc production increased to 13.1 thousand tonnes in Q3 FY16 from 10.7 thousand tonnes in the prior year's quarter. Lead production also increased from 3.5 thousand tonnes in Q3 FY15 to 5.0 thousand tonnes in the reported quarter. However, copper production fell marginally to 3.2 thousand tonnes during Q3 FY16 from 3.6 thousand tonnes in Q3 FY15.

Cash Flow and Balance Sheet

In the three months ended September 30, 2016, net cash generated by operating activities surged 211% to $102.35 million from $32.87 million in Q3 FY15. Pan American Silver's liquidity position strengthened during Q3 FY16 as the company added $41.1 million to its cash and short-term investments balance. As on September 30, 2016, cash and cash equivalents, and short-term investment balances stood at $245.3 million with capital position of $434.2 million, whereas total debt outstanding as on September 30, 2016 was $47.0 million. Furthermore, the company made capital expenditures of $48.5 million in Q3 FY16, including project capital for the Dolores and La Colorada mine expansions.

Dividends and Share Repurchases

In its earnings press release, Pan American Silver's Board of Directors declared a quarterly cash dividend of $0.0125 per common share amounting to approximately $1.9 million. The dividend will be payable on December 06, 2016, to the holders of record of Pan American's common shares as of the close on November 25, 2016.

Earnings Outlook

In its guidance for full year FY16, Pan American Silver raised silver production outlook to between 25.0 million to 25.7 million ounces from previously announced production guidance range of 24.0 million to 25.0 million ounces. The company reduced its cash costs expectation for the second time in FY16 and anticipates it to be between $6.25 and $7.00 per ounce, down from previous outlook range of $6.50 to $7.50 per ounce announced on August 11, 2016. Furthermore, capital expenditures outlook for FY16 was reduced to the range of $185 million to $200 million from previous range of $200 million to $215 million.

Stock Performance

Pan American Silver's share price finished yesterday's trading session at $16.91, climbing 4.06%. A total volume of 1.80 million shares exchanged hands. The stock has advanced 22.79% and 154.63% in the last six months and past twelve months, respectively. Furthermore, since the start of the year, shares of the company have gained 160.90%. The stock has a dividend yield of 0.30% and currently has a market cap of $2.58 billion.

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SOURCE: Active Wall Street