UPDATE: Pan American Silver Swings To Q2 Profit

Pan American Silver Corp PAAS swung to a second-quarter profit on Thursday. Pan American Silver reported its quarterly profit at $113.5 million, or $1.04 per share, versus a year-ago loss of $5.6 million, or $0.06 per share. Excluding a gain on derivatives and other impacts, Pan American Silver' adjusted earnings came in at $0.71 per share. Its revenue surged 54% to $231.9 million. However, analysts were expecting earnings of $0.75 per share on revenue of $261 million. Silver output dropped 18%, while gold production climbed 4%. Pan American Silver shares closed at $29.08 yesterday.