The Globe and Mail reports in its Tuesday, Dec. 12, edition that BMO Nesbitt Burns analyst Jackie Przybylowski rates Pan American Silver "outperform" in new coverage. The Globe's David Leeder writes in the Eye On Equities column that Ms. Przybylowski targets Pan American Silver shares at $25 (U.S.). Analysts on average target the shares at $25.42 (U.S.). Ms. Przybylowski says in a note: "Silver exposure is hard to find, especially in a relatively large and liquid North American equity. Silver mines tend to be smaller than gold mines, which limits scalability of the company. Even when mines are relatively large, the defined mine lives are often shorter; the veiny nature of the deposits adds cost and difficulty to drilling out long mine lives (and therefore mines are less likely to be credited with value in share price compared to assets with longer mine lives). Because of the difficulty in finding silver in scale and the market's overall preference for gold at certain points in the cycle, many silver companies have diversified into gold or other metals. Pan American Silver is the world's premier silver producer on the balance of silver production, overall size, and exposure to the metal."