Pan American Silver Surges 3.04% on $2.55 Billion MAG Acquisition, Ranks 489th in Market Activity with 36.29% Volume Spike

Pan American Silver (PAAS) saw a 3.04% rise on September 5, 2025, with a trading volume of $0.22 billion, reflecting a 36.29% increase from the previous day and ranking 489th in market activity. The stock’s performance coincided with the completion of its $2.55 billion acquisition of MAG Silver, a strategic move to bolster its silver production and reserves.

The acquisition, finalized after regulatory approval from Mexico’s Federal Economic Competition Commission, grants PAAS a 44% stake in the high-grade Juanicipio mine and full ownership of the Larder and Deer Trail exploration projects. This expansion is expected to add approximately 6 million ounces of annual attributable silver production and 112 million ounces to its resource base, enhancing its leverage to silver prices.

Scotiabank adjusted its price target for PAAS to $36 from $36.50 while maintaining a “Sector Outperform” rating. The firm noted the acquisition strengthens PAAS’s position as a top-tier silver producer, with pro forma revenue exposure to silver increasing to 26% by 2026. BMO Capital also raised its price target to C$45 from C$38, keeping a “Market Perform” rating.

Financially, PAAS reported Q2 2025 adjusted earnings of $0.43 per share, surpassing estimates, and revenue of $812 million, driven by robust silver production. The company’s share price has surged 83.4% year-to-date, outpacing the industry average of 72.1%.

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