Pan American Silver Buys Smaller Firm; Will Barrick, Newmont & Goldcorp Have ...
Pan American Silver Buys Smaller Firm; Will Barrick, Newmont & Goldcorp Have Similar Strategies? Profit Confidential Investigates According to popular online financial newsletter Profit Confidential, Pan American Silver Corp., the world’s second-largest primary silver miner, has offered $1.5 billion in a combined cash and stock deal to acquire Minefinders Corp. Ltd. The price tag is a 36% premium to where Minefinders traded prior to the announcement. According to Michael Lombardi, lead contributor to Profit Confidential, this is just one of the many mining deals that will take place in 2012.New York, NY (PRWEB) January 31, 2012
According to popular online financial newsletter Profit Confidential, Pan American Silver Corp., the world’s second-largest primary silver miner, has offered $1.5 billion in a combined cash and stock deal to acquire Minefinders Corp. Ltd. The price tag is a 36% premium to where Minefinders traded prior to the announcement. According to Michael Lombardi , lead contributor to Profit Confidential, this is just one of the many mining deals that will take place in 2012.
“Gold mining stocks and precious metals stocks did not perform very well in 2011, but that doesn’t mean there is no value in them,” says Lombardi. “Usually, when a sector like this is beaten down or forgotten by the market in general, value players come in and buy it up.”
Lombardi points out that large mining companies are sitting on a big pile of cash, ready to be deployed. Barrick Gold Corporation has $3.0 billion in cash, Newmont Mining Corporation over $1.0 billion in cash, and Goldcorp Inc. almost $1.5 billion in cash.
“In 2012, if the value investors in the gold mining industry don’t buy the gold mining stocks aggressively, the large gold mining companies flush with cash will.” says Lombardi.
Lombardi believes this will spur other hedge funds and asset managers to take a look at the mining sector more carefully and cause more funds to flow into the gold mining stocks, driving prices much higher.
Pan American Silver Corp - News
() - Pan American Silver Corp (PAA.TO) said on Monday it will buy Minefinders Corp Ltd (MFL.TO) for about C$1.5 billion ($1.48 billion), aiming to more than double production by 2015. News of the friendly deal sent shares of Pan American
According to popular online financial newsletter Profit Confidential, Pan American Silver Corp., the world's second-largest primary silver miner, has offered $1.5 billion in a combined cash and stock deal to acquire Minefinders Corp.
ETFS Silver Trust (NYSE:SIVR) climbed 1.56% to $33.90 and iShares Silver Trust (ETF) (NYSE:SLV) rose 1.70%. Silvercorp Metals Inc. (USA) (NYSE:SVM) added 0.19 (2.36%) to $8.25. Pan American Silver Corp. (USA) (NASDAQ:PAAS) increased 1.70% to $24.20 and
Vancouver-based mining company Pan American Silver Corp. (PAAS, $22.29, -$2.43, -9.83%) said Monday it has agreed to buy fellow mining company Minefinders Corp. (MFN, $13.95, +$2.60, +22.91%) for cash and stock worth about C$1.5 billion ($1.48 billion)
The better assets get picked up by the larger companies. In fact, Pan American Silver Corp. (PAA:TSX; PAAS:NASDAQ) just announced a takeover of Minefinders Corp. (MFL:TSX; MFN:NYSE). Minefinders is a one-trick pony, but it's one heck of a pony.
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First Majestic Silver Corp. and Pan American Silver Corp. Under Current Evaluation
First Majestic Silver Corp. and Pan American Silver Corp. Under Current Evaluation
First Majestic Silver Corp. and Pan American Silver Corp. Under Current Evaluation 
First Majestic Silver Corp. and Pan American Silver Corp. Under Current Evaluation 