Shares of SilverCrest Metals Inc. $(SILV.UK)$ (CA:SIL) charged up 9.7% in premarket trading Friday, after the Canada-based silver miner agreed to be acquired by Chicago-based Coeur Mining Inc. $(CDE)$ in a stock deal valued at $1.7 billion. Coeur Mining Chief Executive Mitchell Krebs said the acquisition, which is expected to close late-first quarter of 2025, will create "a leading global silver company" by adding low-cost silver and gold production and "significant" free cash flow. But given that acquisition is a stock deal, Coeur Mining's stock slumped 4.7% ahead of the open. Under terms of the deal, SilverCrest shareholders will receive 1.6022 Coeur shares for each SilverCrest share they own. Based on Thursday's closing prices, that values SilverCrest shares at $11.34, a 22.1% premium. SilverCrest's stock hasn't closed as high as that price since Jan. 7, 2021. Coeur shares have soared 117.2% year to date through Thursday and SilverCrest's stock has climbed 41.8%, while the VanEck Gold Miners ETF $(GDX)$ has rallied 27.6% and the S&P 500 has gained 19.5%.
-Tomi Kilgore
For more from MarketWatch: http://www.marketwatch.com/newsviewer
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
October 04, 2024 07:29 ET (11:29 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。