Pan American Silver: On My Buy List
SomaBull • 39 Comments
SomaBull • 39 Comments
Pan American Silver: Hands-On Approach Management Wanted
The Investment Doctor
The Investment Doctor
Improving Costs, Clean Balance Sheet Not Sparing Pan American Silver
Stephen Simpson, CFA
Stephen Simpson, CFA
Tue, Jul. 5, 12:30 PM
Fri, Jun. 24, 8:48 AM
- While stock futures remain under tremendous pressure following the Brexit vote, gold miner shares are soaring in premarket action, as the added uncertainty in the global economy sparks a surge in gold prices.
- The Gold Miners ETF (NYSEARCA:GDX) +9.5% premarket, putting it on course to open at the highest level since July 2014; among GDX's components, Newmont Mining +7.7% toward a three-year high even though NEM derived 64.1% of its revenue over the last 12 months from the U.K., according to FactSet.
- Among other GDX members, Goldcorp (NYSE:GG) +7.5%, Barrick Gold (NYSE:ABX) +9.6% and Yamana Gold (NYSE:AUY) +7.2%.
- Also premarket: KGC +8.9%, GOLD +11.6%, GFI +11.8%, RGLD +10.6%, HMY +11%, SBGL +12.4%, AEM +8.4%, SLW +5.6%, PAAS +6.1%, EGO +8.3%, NG +8.9%, IAG +8.4%, FNV +5%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
Mon, Jun. 20, 10:22 AM
- Gold futures -0.8% at ~$1,284/oz. after weekend polls showed a higher likelihood that the U.K. would vote to stay in the European Union.
- “This is a market that’s going to be very emotional this week” ahead of the June 23 referendum, says Peter Hug, global trading director at Kitco Metals, who believes that broader economic concerns and low interest rates will continue to support gold prices regardless of the Brexit outcome.
- Gold has risen 21% YTD amid worries over global growth and as the Fed has pushed back plans to raise short-term interest rates.
- Precious metals miners are among the biggest losers in early trading: ABX -3.8%, GG -2.4%, NEM -2.5%, AEM -1.6%, KGC -4.4%, SLW -1.7%, PAAS -2.7%, RGLD -0.8%, EGO -1.4%, NG -1.6%, GFI -4.8%, AUY -1.4%, IAG -1.8%, FNV -1%, HMY -2.3%, SBGL -2.6%, OTCPK:NCMGY -5%.
- ETFs: GLD, SLV, GDX, NUGT, IAU, AGQ, GGN, DUST, PSLV, SIL, PHYS, USLV, SIVR, SGOL, ZSL, GLDX, UGL, DGP, GTU, UGLD, GLL, DZZ, SLVO, SGDM, GLDI, ASA, DSLV, OUNZ, SLVP, DGL, RING, DBS, DGZ, DGLD, PSAU, TGLDX, GYEN, USV, GEUR, UBG
Fri, Jun. 3, 3:58 PM
- Gold miner stocks are skyrocketing, with the sector enjoying its best day in nearly seven years, as the disappointing May jobs report helped spark a strong rally in the yellow metal.
- The VanEck Vectors Gold Miners ETF (GDX +11.1%) surged more than 10% on heavy volume, and all 24 of the ETF’s U.S. equity components traded higher, with 10 of them enjoying double-digit percentage gains.
- In today's trade: ABX +12.9%, NEM +9.5%, GG +7.7%, AEM +11.1%, OTCPK:NCMGY +10.7%, KGC +15.4%, SLW +9%, FNV +9.1%, RGLD +9.4%, EGO +9.8%, GFI +13.7%, SBGL +8.2%, HMY +13%, IAG +16.4%, AU +14.4%, GOLD +8.6%, AUY +13.9%, NGD +9.6%, HL +12.1%, CDE +11.6%, TAHO +10.8%, NG +12.2%, AG +12.3%, PAAS +8.9%.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, RING, PSAU, SGDJ, TGLDX, GDXX, GDJJ, GDXS, GDJS
Thu, May 12, 7:19 PM
- BMO Capital becomes more bullish on precious metals, as it upgrades six gold and silver stocks including five to buy ratings.
- The 20% YTD rise in gold and silver prices should continue over the medium term, the firm says, lending to price targets of $1,400/oz. for gold and $22.50/oz. for silver by the end of Q1 2017.
- BMO upgrades Yamana Gold (NYSE:AUY), Silver Wheaton (NYSE:SLW), Coeur Mining (NYSE:CDE), Pan American Silver (NASDAQ:PAAS) and Detour Gold (OTCPK:DRGDF) to Outperform from Market Perform, and hikes Oceana Gold (OTCPK:OCANF) to Market Perform from Underperform; price targets are $5.50 for AUY (raised from $1), $24 for SLW (jumping from $4.50), $11 for CDE (up from $3), and $19 for PAAS (from $7.50).
- However, the firm downgrades Agnico-Eagle Mines (NYSE:AEM), Franco-Nevada (NYSE:FNV) and Fortuna Silver (NYSE:FSM) to Market Perform from Outperform, saying their stocks already have factored in higher gold and silver prices.
Thu, May 12, 12:14 AM
Wed, May 11, 5:30 PM
Wed, Mar. 23, 3:49 PM
- The YTD commodity price rally has been driven by incrementally positive data from China but the trend is unlikely to continue, as supply cuts are needed across most commodities, Deutsche Bank analyst Jorge Beristain says.
- Following a strong Q1 in precious metals, Beristain downgrades Barrick Gold (ABX -8.3%), Hecla Mining (HL -7%) and Pan American Silver (PAAS -5.4%) to Hold from Buy and Coeur Mining (CDE -9.7%) to Sell from Hold.
- The firm says it "favors select companies with relatively strong balance sheets and businesses that can defend margins through low cost, contractual sales or patented technologies," and recommends some gold exposure through Newmont Mining (NEM -8.3%) but advises avoiding Sell-rated CDE, Franco-Nevada (FNV -4.6%), Goldcorp (GG -7.1%) and Teck Resources (TCK -14.5%).
Thu, Feb. 18, 8:06 AM
Wed, Feb. 17, 5:30 PM
- AAN, AAWW, AGIO, ALE, BCC, CAB, CBB, CHH, COT, CVI, CVRR, DAN, DISCA, DISH, DNR, DUK, EIGI, ETR, GEL, GOV, H, HCN, HII, HOT, IDA, IDCC, IQNT, IRT, LDOS, LH, MFA, MGM, MNTA, MPEL, MTRN, MZOR, NHI, NI, ONE, PAAS, PCG, POOL, PPP, PRGO, RS, SCG, SIX, SODA, SYNT, TK, TNK, TTC, UAN, UPL, VA, VAL, WAB, WM, WMT, WST
Tue, Jan. 19, 12:58 PM
- Pan American Silver (PAAS -5.9%) says it set new annual records for silver and gold production during 2015, but shares are sharply lower along with precious metal prices.
- PAAS says it produced 6.79M oz. of silver during Q4 to set a new annual record of 26.12M oz., and 48.2K oz. of gold during Q4 to also set a new annual gold production record of 183.7K oz.
- For 2016, PAAS foresees annual silver production declining slightly to 24M-25M oz., while gold production is expected at 175K-185K oz.
Dec. 28, 2015, 12:57 PM
- Much like oil/gas firms (hurt by fresh oil price declines), coal, gold, and silver miners are having a rough day. End-of-year tax and fund selling could be playing a role. Comex gold is down a moderate 0.6%, and Comex silver down 3.2%. The S&P is down 0.5%.
- Notable coal decliners: Peabody Energy (BTU -13.6%), Westmoreland Coal (WLB -6.4%), CONSOL Energy (CNX -9%), and Cloud Peak Energy (CLD -4%).
- Notable gold decliners: Goldcorp (GG -3.5%), Barrick Gold (ABX -3.1%), Newmont Mining (NEM -4%), Kinross Gold (KGC -3.8%), Gold Fields (GFI -6.7%), AngloGold Ashanti (AU -5%), Harmony Gold (HMY -6.5%), and Sibanye Gold (SBGL -4.2%).
- Notable silver decliners: Silver Wheaton (SLW -3.8%), Pan American Silver (PAAS -3.6%), First Majestic Silver (AG -6.9%), Tahoe Resources (TAHO -4.9%), and Coeur Mining (CDE -5.8%).
- ETFs: GLD, SLV, IAU, AGQ, PSLV, PHYS, USLV, SIVR, SGOL, ZSL, UGL, DGP, GTU, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, OUNZ, DGL, DBS, DGZ, DGLD, USV, GEUR, UBG, GYEN, TONS, QGLDX
Dec. 14, 2015, 8:35 AM
- Pan American Silver (NASDAQ:PAAS) says CEO Geoff Burns will retire effective Dec. 31, and President Michael Steinmann will become the new President and CEO effective Jan. 1.
- Steinmann has led PAAS's geology and exploration activities since joining the company in 2004; he became Executive VP in 2008 and he took charge of strategic business development activities in 2011.
- Burns, who has served as President and CEO since 2004, will remain on the Board until the next annual general meeting in May 2016.
- PAAS -1.5% premarket.
Nov. 12, 2015, 11:37 AM
- Pan American Silver (PAAS +0.5%) reports a smaller than expected Q3 loss of $0.06/share on a 10% Y/Y drop in revenues to $159M, as prices for metals produced by the company fell significantly.
- PAAS says its Q3 silver production totaled 6.61M oz., 7% higher than a year ago, and gold production totaled a record 53.6K oz., up 57% Y/Y.
- For full-year 2015, PAAS reaffirms its silver production forecast of 25.5M-26.5M oz. and raises its gold production outlook to 175K-180K oz. from its original forecast of 165K-175K oz.
- Maintains its annual production forecasts of 37K-39K metric tons of zinc, 13K-13.5K metric tons of lead, and 14K-15K metric tons of copper.
Nov. 12, 2015, 8:03 AM
- Pan American Silver (NASDAQ:PAAS): Q3 EPS of -$0.06 beats by $0.06.
- Revenue of $159.4M (-10.6% Y/Y) misses by $4.75M.
Nov. 11, 2015, 5:30 PM
Pan American Silver Corp. is a silver mining company, which provides investors with the best investment opportunity to gain real exposure to silver prices. It engages in silver mining and related activities, including exploration, mine development, extraction, processing, refining and... More
Sector: Basic Materials
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