Pan American Silver beats 4Q profit forecasts

VANCOUVER, British Columbia (AP) _ Pan American Silver Corp. (PAAS) on Tuesday reported fourth-quarter net income of $21.8 million, after reporting a loss in the same period a year earlier.

The Vancouver, British Columbia-based company said it had profit of 14 cents per share. Earnings, adjusted for non-recurring costs, were 18 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The silver mining company posted revenue of $190.6 million in the period.

For the year, the company reported net income of $100.1 million, or 66 cents per share, swinging to a profit in the period. Revenue was reported as $774.8 million.

Pan American Silver shares have climbed 38 percent since the beginning of the year. The stock has more than doubled in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PAAS at https://www.zacks.com/ap/PAAS

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Keywords: Pan American Silver, Earnings Report