Cramer praised PAAS as the best silver mine available currently. PAAS announced a definitive deal to acquire MAG Silver Corp. PAAS shares rose 1.3% in a generally declining market. Cramer believes PAAS has strong future potential due to acquisitions.
- PAAS reported adjusted EPS of 1 cent, a 90% decrease from the previous year. - Revenues rose 54% YoY to $601 million due to new mine acquisitions and higher metal volume. - Silver production increased by 28.7%, while gold production surged 81.7% YoY. - The sale of La Arena Gold Mine is expected to be finalized in Q3 2024. - PAAS reaffirmed production guidance for 2024, expecting higher outputs for both silver and gold. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings