Silver Miner SilverCrest's Stock Surges After Coeur Mining's $1.7 Billion Buyout Bid -- MarketWatch

Dow Jones

04 Oct 2024

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.

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October 04, 2024 07:29 ET (11:29 GMT)

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MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 04, 2024 07:29 ET (11:29 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Silver Miner SilverCrest's Stock Surges After Coeur Mining's $1.7 Billion Buyout Bid -- MarketWatch</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSilver Miner SilverCrest's Stock Surges After Coeur Mining's $1.7 Billion Buyout Bid -- MarketWatch\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-10-04 19:29</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     Shares of <a href=\"https://laohu8.com/S/SILV\">SilverCrest Metals Inc</a>. <a href=\"https://laohu8.com/S/SILV.UK\">$(SILV.UK)$</a> (CA:SIL) charged up 9.7% in premarket trading Friday, after the Canada-based silver miner agreed to be acquired by Chicago-based Coeur Mining Inc. <a href=\"https://laohu8.com/S/CDE\">$(CDE)$</a> in a stock deal valued at $1.7 billion. 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MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 04, 2024 07:29 ET (11:29 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SILV","symbol_name":"SilverCrest Metals Inc","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2472695856","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2472695856","pubTimestamp":1728041340,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of SilverCrest Metals Inc.   charged up 9.7% in premarket trading Friday, after the Canada-based silver miner agreed to be acquired by Chicago-based Coeur Mining Inc.  in a stock deal valued at $1.7 billion. 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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%. \n\n\n     -Tomi Kilgore \n\n\n  For more from MarketWatch: http://www.marketwatch.com/newsviewer \n\n\n     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. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 04, 2024 07:29 ET (11:29 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}