TSE:PAAS

Pan American Silver is the world’s second largest primary silver producer. The company is known for its large portfolio of diversified mining and exploration assets, growing silver reserves and low cost of silver production. Silver accounts for the largest commodity in Pan America’s portfolio, followed by gold, zinc, copper and lead.

Pan America owns and operates six mines in Mexico (48% of the portfolio), Peru (26%), Bolivia (14%) and Argentina (12%). The company’s acquisition of Tahoe Resources in February 2019, expanded its portfolio to 10 mines. Pan American Silver engages in both near-site mine and regional exploration programs.

The company is targeting to increase silver production to 30.5-33.0 Moz by 2020, from 25 Moz currently, through the acquisition of late stage exploration and development projects, and operating mines. Increased demand for silver in renewable energy production, electronics, and other industrial applications act as a huge tailwind for the company.