Shares of Pan American Silver Corp (NYSE: PAAS) plunged 6.3% in the last 24 hours following the company's third-quarter 2024 earnings release on November 5. Despite beating Wall Street estimates for adjusted earnings per share and revenue, the results appeared to have disappointed investors.

Pan American reported adjusted EPS of $0.32, beating the consensus estimate of $0.21. Revenue of $716.1 million also surpassed expectations of $699.01 million. However, the company's reported net income was just $56.7 million, significantly lower than the adjusted figure.

The key factors that may have contributed to the stock's decline include: - Higher-than-expected cash costs and all-in sustaining costs for both silver and gold segments, excluding inventory adjustments - Weaker-than-anticipated production numbers for some of Pan American's key operations, such as La Colorada, Huaron, and Dolores - Concerns over the company's debt levels, with total debt standing at $815.2 million as of September 30, 2024