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VANCOUVER - Pan American Silver Corp. (NYSE:PAAS) (TSX:PAAS), a mining company with a market capitalization of $10.64 billion and a perfect Piotroski Score of 9 according to InvestingPro, announced Wednesday the appointment of Pablo Marcet to its Board of Directors, effective immediately.
Marcet brings over 35 years of international mining experience across the Americas and Africa. His expertise spans geology, environmental management, mine operations, stakeholder engagement, government relations, mergers and acquisitions, and enterprise risk management. This appointment comes as Pan American demonstrates strong financial health, with InvestingPro analysis showing the company’s robust position with revenue of $2.99 billion and EBITDA of $1.1 billion in the last twelve months.
"His extensive leadership and operational experience, much of it gained in Latin America, will be a valuable addition to our Board," said Gillian Winckler, Chair of Pan American’s Board.
Currently, Marcet serves as Executive Director of Piche Resources, an Australian exploration and development company, and as founder and President of Geo Logic, a mining consultancy firm. His previous roles include senior leadership positions at Orosur Mining, Waymar Resources, Northern Orion Resources, and a 15-year tenure at BHP focused on Latin America.
Marcet has also served on the boards of several publicly listed companies, including Barrick Mining Corporation and Arcadium Lithium PLC. He holds an MBA from the University of Phoenix, a Master’s degree in Economic Geology from Harvard University, and a Bachelor of Science degree in Geology from the University of the Pacific.
"As an Argentine national having spent much of my career in Latin America, I am especially proud to join Pan American," Marcet said in the press release.
Pan American Silver operates mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile, and Argentina, with shares trading on the New York Stock Exchange and Toronto Stock Exchange under the symbol "PAAS." The company has shown impressive performance with a 45.35% year-to-date return and currently trades near its 52-week high. According to InvestingPro, which offers comprehensive analysis and 13 additional key insights about the company, Pan American’s stock currently appears undervalued based on its Fair Value calculations.
In other recent news, Pan American Silver Corp. reported strong first-quarter earnings and revenue, surpassing analyst expectations. The company posted adjusted earnings of $0.42 per share, exceeding the anticipated $0.16 per share, while revenue reached $773.2 million, beating the forecast of $668.96 million. Additionally, Pan American Silver announced its acquisition of MAG Silver Corp., a move considered credit positive by Moody’s Ratings. The deal, valued at $2.1 billion, includes $500 million in cash and shares, enhancing Pan American’s portfolio with MAG Silver’s 44% stake in the Juanicipio silver mine. This acquisition is expected to diversify Pan American’s portfolio and boost cash generation without additional debt. Following the announcement, TD Securities downgraded MAG Silver’s stock rating from Buy to Sell, citing the acquisition offer as an attractive opportunity for shareholders. The acquisition places a significant premium on MAG’s stake in the Juanicipio mine, which holds 143 million ounces of silver equivalent reserves. RBC estimates the valuation of MAG’s stake at 2.23x price to net asset value and 9.52x 24-month forward enterprise value to EBITDA.
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