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VANCOUVER - Pan American Silver Corp. (NYSE:PAAS) (TSX:PAAS), which according to InvestingPro has achieved a perfect Piotroski Score of 9 indicating excellent financial strength, has completed its acquisition of MAG Silver Corp. (NYSE American:MAG) (TSX:MAG), adding a 44% joint venture interest in the Juanicipio silver mine in Zacatecas, Mexico, operated by Fresnillo plc.
The transaction, valued at US$500 million in cash plus approximately 60.2 million Pan American shares, closed on Thursday as previously announced. Former MAG shareholders now own approximately 14.3% of Pan American’s outstanding shares on a fully diluted basis. The company’s strong financial position is evident with a healthy current ratio of 3.05 and moderate debt levels, according to recent financial data.
In addition to the Juanicipio stake, Pan American acquired 100% ownership of the Larder exploration project and a 100% earn-in interest in the Deer Trail exploration project through the deal.
"The Juanicipio Mine is a high-quality addition to our portfolio that will contribute meaningfully to our silver production, reserves and cash flow," said Michael Steinmann, President and Chief Executive Officer of Pan American in a press release statement.
MAG shares are expected to be delisted from the Toronto Stock Exchange as of market close on September 8, 2025, and ceased trading on the NYSE American at market open on September 4, 2025. Pan American is applying for MAG to cease being a reporting issuer under Canadian securities laws.
The acquisition strengthens Pan American’s position as one of the world’s leading silver producers. The company currently operates mines across seven countries in the Americas, including Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. InvestingPro data shows impressive year-to-date returns of over 70%, with analysts projecting continued growth in net income this year. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, covering over 1,400 US equities.
Pan American also owns the Escobal mine in Guatemala, which is currently not operating, according to the company’s statement based on the press release. Based on InvestingPro’s Fair Value analysis, the stock is currently trading near its Fair Value, with a market capitalization of $12.39 billion and maintaining dividend payments for 16 consecutive years.
In other recent news, Pan American Silver Corp. reported strong financial results for the second quarter of 2025, exceeding analyst expectations. The company’s earnings per share came in at $0.43, higher than the projected $0.40, while revenue reached a record $811.9 million, surpassing the anticipated $794.94 million. Additionally, Pan American Silver has received final approval from Mexican regulators for its acquisition of MAG Silver Corp. The Federal Economic Competition Commission of Mexico has cleared the transaction, fulfilling all necessary regulatory, shareholder, and court requirements. The acquisition is set to conclude on September 4, 2025. These developments mark significant progress for Pan American Silver, with the company achieving both strong financial performance and strategic expansion through acquisition.
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