Why Shares of Pan American Silver Are Falling Today
While markets are rising today, shares of precious-metals miner Pan American Silver (NASDAQ: PAAS) are looking a lot less lustrous in investors' eyes. Reporting its second-quarter 2022 earnings yesterday after the market closed, Pan American Silver failed to meet analysts' top- and bottom-line estimates, to the chagrin of investors.
As of 11:02 a.m. ET on Thursday, shares are down 13.3%.
Pan American Silver operates several mines in North and Central America, but it's the Dolores mine in Mexico that is under investors' scrutiny today. Escalating costs during the second quarter at Dolores led the company to suspend operations, leading management to record a pre-tax impairment charge of $99.1 million, and $62.8 million in inventory adjustments.
Source Fool.com
