10 Best Canadian Gold Stocks to Buy Now

4. Pan American Silver Corp. (NYSE:PAAS)

Number of Hedge Fund Holders: 34

Pan American Silver Corp. (NYSE:PAAS) is a major Canadian mining company focused on silver and gold extraction across several countries, including Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company also explores base metals, cementing its position among the best Canadian stocks.

Q4 2024 brought significant financial gains for Pan American Silver Corp. (NYSE:PAAS), fueled by higher metal prices and increased output. The quarterly revenue reached $815.1 million, making the yearly total $2.8 billion. Silver production totaled 21.1 million ounces, and gold hit a record 892,000 ounces, boosted by the integration of Yamana mines. These results generated an annual operating cash flow of $724.1 million and a free cash flow of $445.1 million, strengthening the company’s financial position.

Moreover, Pan American Silver Corp. (NYSE:PAAS) is exploring synergies with Discovery Silver and assessing satellite deposits like Whitney and Gold River for development. El Peñón mine maintains steady production with an improved cost midpoint of $12.35 per ounce. At La Colorada, ventilation upgrades have boosted daily throughput to 2,000 tons, lowering operational costs.

For 2025, Pan American Silver Corp. (NYSE:PAAS) predicts silver production between 20 million and 21 million ounces and gold output between 735,000 and 800,000 ounces. Production will likely be concentrated in the second half of the year, reducing per-unit costs as efficiency improves. Despite regulatory hurdles at the Escobal project, discussions continue with Guatemala’s government. With robust cash flow, operational improvements, and strategic assets, Pan American Silver remains well-positioned to benefit from rising metal prices and sustained long-term growth.