May. 15 at 6:40 PM
$FNLPF JPMorgan maintains Fresnillo stock Overweight with GBP14.50 target Published 05/13/2025
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The endorsement comes in the wake of recent industry developments where Pan American Silver (NYSE:PAAS) announced on Monday that it would purchase MAG Silver (NYSE:MAG) for approximately
$2.1 billion. This acquisition highlights ongoing mergers and acquisitions within the midcap gold and silver sector.
Fresnillo owns a majority 56% stake in the Juanicipio silver mine in Mexico, with the acquired MAG Silver holding the remaining 44%. This mine is significant to Fresnillo, contributing an estimated 18% to its 2025 expected EBITDA. JPMorgan’s analysis suggests that the deal assigns a value to MAG Silver and its share in Juanicipio at roughly 9.5 times its projected 2025 enterprise value to EBITDA (EV/EBITDA), a figure significantly higher than Fresnillo’s current trading multiple of about 4.5 times its forecasted 2025/26 EV/EBITDA.
https://www.investing.com/news/analyst-ratings/jpmorgan-maintains-fresnillo-stock-overweight-with-gbp1450-target-93CH-4040607