Pan American Silver Releases Updated Technical Report on Juanicipio Property
Pan American Silver Corp. has released a technical report on the Juanicipio Property, a joint venture with MAG Silver Corp. and Fresnillo plc in Zacatecas, Mexico. The report updates mineral resource and reserve estimates and highlights the ramp-up of mine operations. It cautions U.S. investors about data comparability. Analysts rate the stock as a Buy with a C$51.00 price target, noting strong financial performance and strategic developments.
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The latest announcement is out from Pan American Silver ( (TSE:PAAS) ).
Pan American Silver Corp. has released a technical report concerning the Juanicipio Property, a joint venture with MAG Silver Corp. and Fresnillo plc, located in Zacatecas, Mexico. The report, effective March 4, 2024, outlines updated mineral resource and reserve estimates as of May 31, 2023, and highlights the ongoing ramp-up of mine operations which achieved a processing capacity of 4,000 tonnes per day in Q3 2023. The report also notes the differences between Canadian and U.S. standards for mineral resource reporting, cautioning U.S. investors regarding the comparability of the data.
The most recent analyst rating on (TSE:PAAS) stock is a Buy with a C$51.00 price target. To see the full list of analyst forecasts on Pan American Silver stock, see the TSE:PAAS Stock Forecast page.
Spark’s Take on TSE:PAAS Stock
According to Spark, TipRanks’ AI Analyst, TSE:PAAS is a Outperform.
Pan American Silver’s strong financial performance and positive earnings call are the most significant factors driving the overall score. The company’s robust growth, profitability, and strategic developments, such as increased silver production guidance and dividend, contribute to a positive outlook. While the technical analysis suggests caution due to potential overbought conditions, and the valuation indicates a relatively high P/E ratio, the overall sentiment remains favorable.
To see Spark’s full report on TSE:PAAS stock, click here.
More about Pan American Silver
Pan American Silver Corp. is a leading company in the mining industry, primarily focused on the exploration and production of silver, gold, and other precious metals. The company operates in various regions, with a significant focus on the Zacatecas region in Mexico, where it is involved in a joint venture for the Juanicipio Property.
Average Trading Volume: 1,292,606
Technical Sentiment Signal: Buy
Current Market Cap: C$26.45B
