Pan American Silver (PAAS): Initiation - Lean, mean silver machine
Pan American Silver (PAAS): Initiation - Lean, mean silver machine
- Pan American Silver (PAAS): Initiation - Lean, mean silver machine
Pan American Silver (PAAS) is one of the world largest primary silver producers, with key operations in the Americas. - While the well-timed acquisition of Tahoe Resources in 2019 boosted exposure to gold, given the quality and the calibre of its key silver assets, PAAS remains predominantly a silver play.
- With ongoing expansion in renewables, which could intensify due to energy security concerns, we expect solar photovoltaics and general e-mobility to become the main areas of growth for silver.
- Given the strength in commodity prices, a 10% increase in our silver/gold price deck would boost our valuation by c 20%.