National Bank Financial on Tuesday reiterated its outperform rating on the shares of Pan American Silver (PAAS.TO, PAAS) while raising its price target to C$44.25 from C$40.75 following the company's third-quarter results.
"We rolled the DCF forward and updated our model with Q3/24A. We added La Arena ops for Q4/24 and moved deal closure forward to year-end (was Q3/24). After model adjustments, we model FY24 production at 21.1mln oz Ag and 916k oz Au, slightly below respective guidance midpoints, with a back-end loaded Q4/24. On costs, we model FY24 AISC at $17.80/oz Ag and $1,502/oz Au, both within respective guidance ranges. Finally, we adjusted taxes paid higher in Q4/24 to ~$80 mln, as per company messaging," Analyst Don DeMarco wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 30.08, Change: -0.09, Percent Change: -0.30
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