Pan American Silver price target lowered to $39 from $42 at CIBC

CIBC lowered the firm’s price target on Pan American Silver (PAAS) to $39 from $42 and keeps an Outperformer rating on the shares. Pan American Silver announced that it has entered into a definitive agreement to acquire MAG Silver (MAG) at $20.54/share. The deal is valued at $2.1B, with up to $500M paid in cash and the remainder converted at an exchange ratio of 0.755 PAAS share per MAG share. With a modelled closing date of second half of 2025, the firm expects Pan American Silver’s 2025 attributable silver production to increase from 20.6M-23.0Moz. Overall, with the acquisition, Pan American Silver gains an interest in an important asset in Juanicipio, with Fresnillo (FNLPF) remaining the operator. CIBC believes it solidifies Pan American’s position as one of the key players in the silver space.

Confident Investing Starts Here:

• Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions

• Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on PAAS:

Disclaimer & DisclosureReport an Issue

• Pan American Silver falls -15.0%

• MAG Silver price target raised to $18 from $16 at Roth Capital

• Pan American Silver falls -13.3%

• Pan American Silver falls -10.6%

• Pan American Silver to acquire MAG Silver for $20.54 per share, or $2.1B