Pan American Silver (TSX:PAAS) Moat Score: 5/10 (As of Jun. 30, 2026)


TSX:PAAS Pan American Silver Corp TSX:PAAS
81 GF Score
Price C$63.37
GF Value C$45.90
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is Pan American Silver Moat Score?

Pan American Silver TSX:PAAS -1.71% 81 Moat Score is 5 as of Jun. 30, 2026. GuruFocus rates TSX:PAAS with a GF Score™ of 81/100 and a GF Value™ of C$45.90 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 2,611 Metals & Mining companies, Pan American Silver ranks better than 98.74% on this metric.

Pan American Silver has the Moat Score of 5, which implies that the company might have Narrow Moat - Solid narrow moat.

Pan American Silver has Narrow Moat: Pan American Silver Corp has a solid narrow moat due to its established market position and cost advantages in silver production. However, it lacks the pricing power and regulatory barriers to be considered a wide moat.

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes Pan American Silver might have Narrow Moat - Solid narrow moat.

Pan American Silver  (TSX:PAAS) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

Pan American Silver Moat Score Related Terms

TSX:PAAS vs NEM, AU: Moat Score Comparison

For the Gold subindustry, Pan American Silver's Moat Score, along with its competitors' market caps and Moat Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Pan American Silver Moat Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Pan American Silver's Moat Score distribution charts can be found below:

* The bar in red indicates where Pan American Silver's Moat Score falls into.


TSX:PAAS
81GF Score
Pan American Silver Corp TSX:PAAS
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis
Frequently Asked Questions Learn more about Moat Score →
What does a Moat Score of 5 mean?
Pan American Silver (TSX:PAAS) has a Moat Score of 5 as of Jun. 30, 2026. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. According to the industry distribution chart, Pan American Silver ranks #33 out of 2611 companies in the Metals & Mining industry, placing it in the top 1.3%.
Is Pan American Silver's Moat Score too high?
Pan American Silver's current Moat Score is 5. The Metals & Mining industry median Moat Score is 1.00. Pan American Silver's value of 5 is 400% above this industry median. Based on the distribution chart, Pan American Silver ranks #33 out of 2611 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Pan American Silver has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pan American Silver's Moat Score compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Pan American Silver ranks #33 out of 2611 companies for Moat Score. This places Pan American Silver in the top 1% of its industry — outperforming the majority of peers. The industry median Moat Score is 1.00. Pan American Silver's value of 5 is 400% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Moat Score for a Metals & Mining company?
The median Moat Score among Metals & Mining companies is 1.00, based on 2,611 companies in the industry. Companies in the top quartile (top 25%) have a Moat Score significantly above this median, while those in the bottom quartile fall well below. However, Moat Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Pan American Silver's current Moat Score of 5 is 400% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Moat Score mean?
A high Moat Score can signal that a stock is expensive relative to its fundamentals. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. For the Metals & Mining industry, the median Moat Score is 1.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pan American Silver's current Moat Score is 5. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pan American Silver stock overvalued right now?
Based on GuruFocus' analysis, Pan American Silver (TSX:PAAS) is currently considered Significantly Overvalued. The stock's GF Value™ is C$45.90, compared to a current price of C$63.37 — trading 38.1% above its estimated fair value. The current Moat Score is 5 and 400% above the Metals & Mining industry median of 1.00. Pan American Silver's overall GF Score™ is 81/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Moat Score calculated?
Moat Score is calculated from a company's financial statements. For Pan American Silver (TSX:PAAS), the current Moat Score is 5 as of Jun. 30, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Pan American Silver (TSX:PAAS) Overvalued in 2026?

Based on GuruFocus' analysis, Pan American Silver stock appears to be overvalued. The current stock price of C$63.37 is trading 38.1% above its estimated GF Value™ of C$45.90. GuruFocus considers Pan American Silver to be Significantly Overvalued.

Key valuation signals for TSX:PAAS:

  • Moat Score: 5
  • GF Value™: C$45.90 vs. price of C$63.37 (38.1% above fair value)
  • GF Score™: 81/100 with 3 warning signs
  • Industry Position: 400% above the Metals & Mining median (#33 of 2611)

No single metric tells the full story. See the TSX:PAAS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Pan American Silver Business Description

Address 733 Seymour Street, Suite 2100, Vancouver Centre II, Vancouver, BC, CAN, V6B0S6
Pan American Silver Corp is a mining company principally engaged in the operation and development of, and exploration for, silver and gold-producing properties and assets. The company's principal products are silver and gold, although it also produces and sells zinc, lead, and copper. Its operating mines comprise La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, and San Vicente mines.
81GF Score

Get the complete analysis for TSX:PAAS

Moat Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$63.37
Price
C$45.90
GF Value