Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: MAG Silver - MAG Silver currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for potential outperformance in the market [3] Performance Metrics - Over the past week, MAG shares increased by 5.44%, while the Zacks Mining - Silver industry declined by 5.18% [5] - In the last month, MAG's price change was 21.99%, significantly outperforming the industry's 0.26% [5] - Over the past quarter, MAG shares rose by 19.53%, and over the last year, they increased by 31.95%, compared to the S&P 500's movements of -2.63% and 13.25% respectively [6] Trading Volume - MAG's average 20-day trading volume is 2,306,967 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, 5 earnings estimates for MAG have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $0.71 to $0.86 [9] - For the next fiscal year, 2 estimates have also moved upwards without any downward revisions [9] Conclusion - Given the strong performance metrics and positive earnings outlook, MAG Silver is recommended as a solid momentum pick with a Momentum Score of A and a Zacks Rank of 2 (Buy) [11]

Group 1 - The current market uncertainties have led to a shift towards safe-haven assets, particularly gold, which is traditionally viewed as a secure investment during turbulent times [1] - Mountain Valley Value Investments focuses on identifying undervalued companies with strong growth potential across various sectors, emphasizing long-term value and strategic buying [1] - The investment philosophy of the company is based on disciplined research and a commitment to highlighting potential risks that may affect investment theses [1] Group 2 - The company aims to provide actionable investment ideas that are resilient over time, leveraging deep industry insights and rigorous analysis to uncover opportunities for strong returns [1]

Core Viewpoint - MAG Silver has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, particularly influenced by institutional investors [4][6]. - For MAG Silver, the rising earnings estimates and the rating upgrade suggest an improvement in the company's underlying business, likely leading to increased stock prices [5][10]. Earnings Estimate Revisions - MAG Silver is projected to earn $0.84 per share for the fiscal year ending December 2025, reflecting a year-over-year increase of 12% [8]. - Over the past three months, the Zacks Consensus Estimate for MAG Silver has risen by 18.8%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system categorizes stocks based on earnings estimate revisions, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of MAG Silver to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [10].

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive has bureaus and studios in key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Group 2 - The company is focused on sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] - Proactive adopts technology to enhance workflows and improve content production [4] - Automation and software tools, including generative AI, are used, but all content is edited and authored by humans [5]

Core Viewpoint - Pan American Silver Corp. is acquiring MAG Silver Corp. to enhance its silver portfolio, particularly through the high-grade Juanicipio silver mine, which is expected to significantly increase Pan American's exposure to high-margin silver production [1][3][4]. Transaction Details - The acquisition involves a total consideration of approximately $2.1 billion, equating to $20.54 per MAG share, which includes $500 million in cash and 0.755 Pan American shares per MAG share [2][7]. - The consideration represents premiums of approximately 21% and 27% on a prorated basis compared to MAG's closing price and the 20-day volume weighted average price as of May 9, 2025 [2][4]. - Following the transaction, existing MAG shareholders will own about 14% of Pan American on a fully diluted basis [2][8]. Benefits to MAG Shareholders - MAG shareholders will receive an immediate premium and gain diversified exposure to Pan American's portfolio of ten silver and gold mines across seven countries [4][6]. - The transaction allows MAG shareholders to maintain exposure to the Juanicipio mine, which continues to show strong operational performance [4][6]. Strategic Rationale for Pan American - The acquisition is expected to de-risk MAG shareholders' concentrated interest in Juanicipio by converting it into equity ownership in a diversified silver producer [6]. - Juanicipio is forecasted to produce between 14.7 million ounces (Moz) and 16.7 Moz of silver in 2025, significantly contributing to Pan American's production [6][10]. - The transaction is projected to enhance Pan American's free cash flow generation, with Juanicipio expected to generate approximately $200 million in free cash flow in 2025 [6][10]. Operational and Financial Strength - The acquisition adds 58 Moz of silver to Pan American's proven and probable mineral reserves and strengthens its position as a leading silver producer [6][10]. - Pan American has a strong track record of returning capital to shareholders, having returned over $1.0 billion through dividends and buybacks since 2010 [6][10]. Closing and Approval Process - The transaction is expected to close in the second half of 2025, pending customary closing conditions and shareholder approval from MAG [9][10]. - All directors and executive officers of MAG have agreed to vote in favor of the transaction [9][12].

Company Overview - MAG Silver Corp. is a North American precious metals mining company focused on exploration projects in Canada and the United States [1] - The company has earlier stage exploration projects, specifically Larder in Canada and Deer Trail in the United States, but derives most of its value from other operations [1] Investment Strategy - The investment strategy focuses on turnarounds in natural resource industries with a typical holding period of 2-3 years [2] - Emphasis on value investing provides good downside protection while allowing for significant upside potential [2] - The portfolio has achieved a compounded annual growth rate of 27% over the last 6 years [2]

Exhibit 99.1 MAG SILVER CORP. Unaudited Condensed Interim Consolidated Financial Statements (expressed in thousands of United States dollars) For the three months ended March 31, 2025 Dated: May 7, 2025 VANCOUVER OFFICE Suite 801 815 West Hastings Street Vancouver, BC V6C 1B4 MAG SILVER CORP. Condensed Interim Consolidated Statements of Income and Comprehensive Income For the three months ended March 31, 2025 and 2024 (In thousands of United States dollars, except for shares and per share amounts - Unaudite ...

Corporate Highlights - MAG Silver Corp. appointed John Armstrong to the Board effective January 31, 2025, as part of its Board refreshment strategy [3] - The company reported record net income of $28,744 (or $0.28 per share) for Q1 2025, driven by strong performance from the Juanicipio project [5][28] - MAG declared its second dividend of $0.20 per share, payable on May 28, 2025, reflecting a cash flow linked component from Juanicipio [5] Financial Performance - For Q1 2025, MAG reported sales of $175,235, a significant increase from $123,689 in Q1 2024, attributed to a 37% rise in realized metal prices [20] - Gross profit for Q1 2025 was $120,990, compared to $64,864 in Q1 2024, indicating improved profitability [20] - The company’s cash operating margin increased from 70% to 81% due to favorable commodity price movements and reduced operating costs [22] Operational Highlights - Juanicipio processed 337,017 tonnes of ore with a silver head grade of 430 g/t, achieving a record silver recovery of 96% [5][12][13] - The project generated strong operating cash flow of $86,399 and free cash flow of $77,438 during Q1 2025 [41] - Total cash costs for Juanicipio were reported as negative $3,641, with a cash cost per silver ounce sold of negative $0.91 [15][17] Exploration Activities - In Q1 2025, MAG conducted 6,992 metres of underground infill drilling at Juanicipio, with plans for further drilling in 2025 [6] - The Deer Trail Project in Utah completed six pilot holes totaling 1,783 metres, aimed at assessing feasibility for future drilling [6] - The Larder Project in Ontario is set to begin a 25,000 metres drill campaign in Q2 2025, following a detailed geological synthesis of data collected in 2024 [6] Production Metrics - Juanicipio achieved silver production of 4.5 million ounces and equivalent silver production of 6.5 million ounces in Q1 2025 [5] - The total material mined increased by 7% to 347,467 tonnes compared to Q1 2024, reflecting operational ramp-up [11] - The all-in sustaining cost per silver ounce sold decreased to $2.04 in Q1 2025 from $6.11 in Q1 2024, driven by lower costs and higher by-product revenues [18]

Core Viewpoint - MAG Silver Corp. has declared a total dividend of $0.20 per share, consisting of a fixed dividend of $0.02 and a performance-linked dividend of $0.18, reflecting strong cash flow from the Juanicipio project [1][2]. Group 1: Dividend Declaration - The total dividend of $0.20 per share is payable on May 28, 2025, to shareholders on record as of May 19, 2025 [1]. - The performance-linked dividend represents approximately 30% of the $61.5 million cash received from the Juanicipio project [1]. Group 2: Company Strategy - The company emphasizes a disciplined and transparent approach to returning capital to shareholders, aligning returns with operational results [2]. - The structure of the dividend allows shareholders to have direct exposure to the company's success while maintaining flexibility for future growth [2]. Group 3: Company Overview - MAG Silver Corp. is a Canadian mining and exploration company focused on high-grade precious metals projects in the Americas [3]. - The company holds a 44% joint venture interest in the Juanicipio Mine, which has a design capacity of 4,000 tonnes per day and is operated by Fresnillo plc [3]. - In addition to Juanicipio, MAG is conducting exploration programs at the Deer Trail Project in Utah and the Larder Project in Canada [3].

Group 1 - MAG Silver's shares have increased by 0.4% over the past four weeks, closing at $15.42, with a mean price target of $19.51 indicating a potential upside of 26.5% [1] - The average of 10 short-term price targets ranges from a low of $16 to a high of $22.93, with a standard deviation of $2.17, suggesting a variability in estimates [2] - Analysts have shown a strong agreement in revising earnings estimates higher, which correlates with potential stock price increases [4][11] Group 2 - The Zacks Consensus Estimate for the current year has risen by 12.2% over the past month, with four estimates increasing and no negative revisions [12] - MAG Silver holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] - While consensus price targets may not be reliable for predicting exact gains, they can indicate the direction of price movement [13]