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PAAS

Pan American Silver

$15.03

-0.02 (-0.13%)

, TAHO

Tahoe Resources

$3.76

-0.005 (-0.13%)

12:54
01/11/19
01/11
12:54
01/11/19
12:54

Pan American Silver acquisition of Tahoe receives final court approval

Pan American Silver Corp. (PAAS) announced that Tahoe Resources (TAHO) received a final order of the Supreme Court of British Columbia approving the previously announced plan of arrangement pursuant to which Pan American will acquire all of the issued and outstanding shares of Tahoe. Both Pan American and Tahoe shareholders approved the arrangement at their respective special meetings held earlier this week. The arrangement is expected to be completed on or about February 26, subject to customary closing conditions, and following authorization from the Mexican Federal Economic Competition Commission.

PAAS

Pan American Silver

$15.03

-0.02 (-0.13%)

TAHO

Tahoe Resources

$3.76

-0.005 (-0.13%)

PAAS Pan American Silver
$15.03

-0.02 (-0.13%)

11/15/18
RBCM
11/15/18
DOWNGRADE
Target $17
RBCM
Sector Perform
Pan American Silver downgraded to Sector Perform at RBC Capital on higher risk
As reported earlier, RBC Capital analyst Mark Mihaljevic downgraded Pan American Silver to Sector Perform from Outperform and lowered his price target to $17 from $19. The analyst notes that while the company's Tahoe acquisition adds a "world-class silver mine in Escobal", it also comes with a material increase in its risk profile. Mihaljevic adds that the company is on a timeline to demonstrate "concrete gains in Guatemala" and may also suffer from a "typical M&A overhang". The analyst further notes that he still expects the deal to be "accretive to 2019-21 operating, sustaining and free cash flow per share by 38%, 28% and 22%" respectively.
11/19/18
BOFA
11/19/18
DOWNGRADE
Target $12.75
BOFA
Underperform
Pan American Silver downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst Lawson Winder downgraded Pan American Silver (PAAS) to Underperform from Neutral and cut its price target to $12.75 from $16.70 citing substantial risk assumed from the Tahoe Resources (TAHO) acquisition and the high priced paid.
11/19/18
11/19/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AstraZeneca (AZN) downgraded to Hold from Buy at Investec. 2. Charles Schwab (SCHW) downgraded to Neutral from Buy at UBS with analyst Brennan Hawken saying while Schwab's business is growing more rapidly than traditional asset managers, there also seems to be "multiple compression on market sensitive revenues given risks to that outlook." 3. Pan American Silver (PAAS) downgraded to Underperform from Neutral at BofA/Merrill with analyst Lawson Winder citing substantial risk assumed from the Tahoe Resources (TAHO) acquisition and the high priced paid. 4. PNC Financial (PNC) downgraded to Market Perform from Outperform at BMO Capital with analyst Lana Chan saying that the stock is approaching her prior $139 per share forecast and sees the company as challenged in gaining market share through expansion given the competition from other Universal banks. 5. Madrigal Pharmaceuticals (MDGL) downgraded to Underperform at Raymond James with analyst Steven Seedhouse saying he expected MGL-3196 Phase 2 data sentiment to worsen exiting AASLD, but that it was exacerbated by the NASH resolution definition informing the seemingly large effect size of 27% versus 6% was not what he expected. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/21/18
12/21/18
DOWNGRADE
Target $5

Market Perform
Tahoe Resources downgraded to Market Perform from Outperform at BMO Capital
As previously reported, BMO Capital analyst Andrew Kaip downgraded Tahoe Resources (TAHO) to Market Perform from Outperform and cut his price target to $5 from $7. While he recognizes that standalone Tahoe would provide superior leverage to an Escobal restart, 2019, and potentially 2020, look to be a challenging years for the company and recommends shareholders tender to the Pan American Silver (PAAS) offer.
TAHO Tahoe Resources
$3.76

-0.005 (-0.13%)

01/26/18
FBCO
01/26/18
DOWNGRADE
FBCO
Neutral
Tahoe Resources downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst Anita Soni downgraded Tahoe Resources to Neutral and lowered his price target for the shares to C$7 from C$9. The analyst updated her model to reflect preliminary production results and the continued delays in restarting Escobal. Soni expects a positive outcome but has no clarity on the timing of the Constitutional Court ruling.
03/28/18
CANT
03/28/18
INITIATION
CANT
Overweight
Tahoe Resources initiated with a Buy at Cantor Fitzgerald
Cantor Fitzgerald analyst Matthew O'Keefe started Tahoe Resources with a Buy rating and C$8.60 price target.
12/20/18
BMOC
12/20/18
DOWNGRADE
BMOC
Market Perform
Tahoe Resources downgraded to Market Perform from Outperform at BMO Capital

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MSFT

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EBAY

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CLR

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$45.30

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APY

Apergy

$33.20

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AMZN

Amazon.com

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SMBK

SmartFinancial

$18.35

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MLRYY

Mail.Ru Group

$0.00

(0.00%)

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BABA

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SLM

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NuCana

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FB

Facebook

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GOOG

Alphabet

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FCPT

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, BLMN

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BAC

Bank of America

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F

Ford

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F

Ford

$8.34

-0.17 (-2.00%)

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CHMG

Chemung Financial

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F

Ford

$8.34

-0.17 (-2.00%)

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F

Ford

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HSIC

Henry Schein

$76.92

-0.45 (-0.58%)

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HSIC

Henry Schein

$76.92

-0.45 (-0.58%)

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