Pan American Silver: 2Q Earnings Snapshot
VANCOUVER, British Columbia (AP) _ Pan American Silver Corp. (PAAS) on Wednesday reported second-quarter earnings of $18.5 million.
The Vancouver, British Columbia-based company said it had net income of 9 cents per share. Earnings, adjusted for non-recurring gains, came to 4 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The silver mining company posted revenue of $282.9 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $339.5 million.
Pan American Silver shares have climbed 16% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.97, an increase of 6.5% in the last 12 months.