Latest news with #MAGSilver
Yahoo
14-05-2025
- Business
- Yahoo
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. 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 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Pan American Silver Strikes $2.1 Billion Deal to Buy MAG Silver
Pan American Silver (PAAS) agreed to acquire Canadian silver mining company MAG Silver (MAG) in a ca Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
12-05-2025
- Business
- Globe and Mail
Pan-American shareholders give cool early reception to US$2.1-billion deal to buy MAG Silver
Pan American Silver Corp. PAAS-T has reached a friendly arrangement to buy its Canadian competitor MAG Silver Corp. MAG-T in a US$2.1-billion stock and cash deal that isn't going down well with shareholders in early trading. Vancouver-based MAG's biggest asset is its 44-per-cent share in the Juanicipio silver mine in Mexico, which is majority owned and operated by British company Fresnillo PLC. Pan American, also based in Vancouver, has a portfolio of 10 silver and gold mines in seven countries. The company expanded its footprint considerably a few years ago when it bought a suite of South American mines from Yamana Gold Inc. For each MAG share held, investors can choose between receiving US$20.54 in cash, 0.755 common shares of Pan American, or a combination of both. The maximum amount of cash that Pan American will pay out in the deal is US$500-million with the balance to be paid in stock. Pan American's takeover, announced on Monday, is 21-per-cent above MAG's Friday closing price. Michael Siperco, analyst with RBC Dominion Securities who covers Pan American, in a note to clients gave the deal a mixed review, calling it 'a solid portfolio upgrade,' but one that comes with a price. While the transaction adds significantly to the company's near-term silver production, it will be dilutive on several metrics, including net asset value, earnings before interest, taxes, depreciation, and amortization, as well as free cash flow. Pan American plans to issue roughly 60 million shares to MAG shareholders to pay for the deal. Shares in Pan American were trading down by about 14 per cent in early trading on the Toronto Stock Exchange. At least two thirds of votes cast by MAG shareholders in a shareholder meeting must be in favour for the deal to close. The deal also needs regulatory clearance from Mexico under its antitrust laws.
Globe and Mail
12-05-2025
- Business
- Globe and Mail
Canadian miner Pan American Silver to acquire MAG Silver at valuation of about $2.1-billion
Canadian miner Pan American Silver PAAS-T will acquire MAG Silver Corp MAG-T in a transaction which values the silver mining company at about $2.1-billion, the companies said on Sunday. The deal will give Pan American Silver access to a 44 per cent interest that MAG has in the tier-one Juanicipio silver mine in Mexico, which is operated by Fresnillo, which owns the remaining 56 per cent. The deal, unanimously approved by the boards of directors of both Pan American and MAG, is expected to close in the second half of 2025, the companies said in a statement. As of the market close on Friday, Pan American Silver, a leading silver and gold mining company has a market capitalization of about $9.9-billion, while MAG Silver has a market capitalization of $1.7-billion, as per LSEG data. Under the deal, MAG shareholders will receive $20.54 per share, consisting of $500-million in total cash and 0.755 Pan American shares per MAG share.
Bloomberg
12-05-2025
- Business
- Bloomberg
Pan American Silver to Buy Smaller Rival MAG for $2.1 Billion
Pan American Silver Corp. agreed to buy smaller producer MAG Silver Corp. in a transaction valued at about $2.1 billion, giving the bigger producer access to a major mine in Mexico. MAG shareholders will receive $500 million in cash and 0.755 ordinary shares of Pan American for each stock they own, Vancouver-based Pan American said Monday. That values MAG shares at $20.54 based on closing prices on May 9, a 21% premium.
