Canaccord downgraded MAG Silver (MAG) to Hold from Buy with a C$29 price target after MAG announced it had agreed to be acquired by Pan American Silver (PAAS) for a combination of cash and stock.
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Read More on MAG:
- MAG Silver price target raised to $18 from $16 at Roth Capital
- Pan American Silver to acquire MAG Silver for $20.54 per share, or $2.1B
- Pan American Silver to Acquire MAG Silver, Expanding Silver Portfolio
- MAG Silver’s Strong Financial Performance and Strategic Exploration Initiatives Justify Buy Rating
- MAG Silver Reports Record Earnings and Dividend