BMO raises PT on Pan American Silver on acquisition of MAG Silver

MAG Silver

05/09/2025 12:46

** BMO raises price target on Canadian miner Pan American Silver Corp PAAS.TO to C$45 from C$38, maintain "perform" rating

     ** The new price target represents ~4% downside to the stock's last close

** PAAS completed its acquisition of MAG Silver, including the Juanicipio asset which adds ~5 million ounces per annum of silver production

** Brokerage believes the Juanicipio asset enhances PAAS' silver exposure, strengthens free cash flow, and lowers costs amid silver's strong price performance

** 3 of 4 brokerages rate the stock "buy" and 1 "hold" - data compiled by LSEG

** As of last close, stock up ~60% YTD

 (Reporting by Dharna Bafna in Bengaluru)

 ((Dharna.bafna@thomsonreuters.com))