MAG Silver stock: After Pan American takeover, MAG Silver stock is delisted

Published on 10/23/2026 at 03:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Pan American completed the takeover on September 4, 2025. MAG Silver stock ceased trading on NYSE American and left TSX on September 5, 2025.

Ownership changed after delisting

MAG Silver ceased trading on NYSE American on September 4, 2025, and left the TSX on September 5, 2025.
Pan American now holds 44 percent of Juanicipio, while Fresnillo retains 56 percent and operates the mine.
Juanicipio produced 3.49 million attributable silver ounces in the first half of 2026.

MAG, CA55903Q1046, Illustration mit AI erstellt.

Pan American Silver completed its acquisition of MAG Silver on September 4, 2025, leaving MAG Silver stock delisted from NYSE American and the TSX. Discovery Alert reported the ownership transition on October 14, 2026.

Delisting closed the standalone story

Trading on NYSE American ceased on September 4, 2025, and MAG shares left the TSX on September 5, 2025. The transaction exchanged cash and approximately 60.2 million Pan American shares for MAG, with former MAG shareholders holding 14.3 percent of Pan American on a fully diluted basis, according to Discovery Alert.

The practical change is structural rather than operational. MAG's former shareholders now have exposure through Pan American, a diversified precious-metals producer, instead of through a separate MAG listing.

What does 44 percent mean?

Pan American holds a 44 percent interest in the Juanicipio silver mine in Zacatecas, Mexico. Fresnillo owns the remaining 56 percent and operates the mine, according to Pan American's October 2026 investor presentation.

Juanicipio produced 3.49 million attributable silver ounces in the first half of 2026. Pan American's presentation also identifies the mine as a 44 percent-owned asset and says the operation provides exposure to silver, gold, zinc and lead concentrates.

MAG Silver exposure now

For former MAG holders, the key investment question has shifted from a standalone stock quote to Pan American's capital allocation, production and cash-flow decisions. The 44 percent stake remains economically relevant, but its results are reported within a larger group.

Pan American's presentation stated that cash and investments totaled USD 1.7 billion as of June 30, 2026, while total debt was USD 841.0 million. Those figures describe the acquiring company rather than a separate MAG balance sheet.