BMO Capital Markets on Friday maintained its market-perform rating on the shares of Pan American Silver (PAAS.TO, PAAS) while raising its price target to C$45.00 from an undisclosed prior level after the company closed its acquisition of MAG Silver.

"We are off restriction following the closure of PAAS's acquisition of MAG Silver. The addition of the Juanicipio asset adds ~5Mozpa of attributable silver production to the PAAS production profile (a ~22% increase), brings ~$170M in annual FCF at spot, reduces firm AISC, and boosts silver production to ~22% of revenue at a time of silver price outperformance. We increase our target price to C$45 and maintain our Market Perform rating," analyst Matthew Murphy 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: 47.32, Change: +0.85, Percent Change: +1.83