BMO Capital lowered the firm’s price target on Pan American Silver to $22 from $27 but keeps an Outperform rating on the shares. The company’s Q4 production results and 2024 production/cost guidance were worse than expectations, the analyst tells investors in a research note. BMO remains positive on the stock longer term, noting that specialization in Latin America gives Pan American Silver operating synergies and supports the company’s license to operate in its communities. The firm added that the potential restart of the Escobal mine could offer upside to the current share price.
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Read More on PAAS:
- Pan American Silver sees Q4 silver production 4.835M ounces
- Pan American Silver reports FY23 consolidated silver production 20.4M ounces
- Pan American Silver call volume above normal and directionally bullish
- Pan American Silver price target raised to $27 from $26 at BMO Capital
- Pan American Silver announces economic assessment of La Colorada Skarn project
