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Pan American Silver Corp.

PAAS · NYSE

Market closed$41.77$-0.210000 (-0.50%)After hours $41.84 · +0.17%

Key statistics

Previous close$41.98
Open$41.29
Day high$42.23
Day low$40.76
52-week high$69.99
52-week low$26.77
Market cap17.60B
Volume3.24M
Average volume4.91M
P/E ratio13.43
Forward P/E—
EPS3.11
Dividend yield+1.48%

Market context

Why it moved

Pan American Silver (PAAS) slipped today after National Bank Financial sharply cut its Q2 2026 EPS estimate, signaling a more cautious near-term earnings outlook that outweighed Scotiabank's modest upward revision to longer-term forecasts.

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What is happening

Recent company-specific developments and publisher coverage.

July 17, 2026Pan American Silver edged lower as precious metals prices continued to weigh on the sector, with silver spot prices trading roughly 32% below Q1 realized highs and gold retreating from ~$4,700 to ~$4,017/oz since Q1. Both Jefferies and BofA maintained Buy ratings but trimmed price targets, citing margin contraction risk from lower commodity prices and elevated diesel costs, while investors look ahead to the August 12 earnings release for updates on the La Colorada Skarn project — a flagship development with an after-tax NPV of ~$2.6B that remains central to the company's long-term growth narrative.

-0.5002

July 17, 2026Pan American Silver declined sharply as silver prices retreated from recent highs near $58, weighing on the broader precious metals mining sector. Investors are keeping a close eye on the company's upcoming August 12 earnings report, with analysts flagging likely Q2 margin contraction driven by lower gold prices and elevated diesel costs. Both Jefferies (Buy, $53 PT) and BofA (Buy, $69 PT) recently trimmed their price targets, citing reductions in commodity price forecasts and challenging market conditions through autumn, even as PAAS is framed as materially undervalued ahead of its earnings catalyst. The La Colorada Skarn development and operating cost trajectory remain key focal points for investors.

-3.6493

July 16, 2026Pan American Silver closed essentially flat as a flurry of analyst activity shaped investor sentiment ahead of the company's August 12 earnings release. Scotiabank raised its price target to ~$67 while maintaining a Buy rating, while both Jefferies and BofA recently trimmed their targets — citing gold price declines from ~$4,700/oz to ~$4,200/oz since Q1, elevated diesel costs, and expectations of Q2 margin contraction. Silver prices hovering near $58/oz remain a key driver, with the metal up over 150% year-over-year. Peer First Majestic Silver surged ~5.8% after raising its 2026 production guidance, highlighting the sector's ongoing focus on output delivery.

0.1379

July 15, 2026Pan American Silver rose nearly 2%, recovering from recent sector weakness as silver spot prices steadied near $58 ahead of the US CPI release — which came in cooler than expected at 3.5%, boosting broader markets. The rebound follows a turbulent stretch driven by a stronger dollar, hawkish Fed rate-hike bets fueled by Hormuz geopolitical tensions, and Jefferies cutting its price target from $53 to $49 citing Q4 gold production misses and weaker 2026 guidance. Offering a counterbalance, Scotiabank maintained its Buy rating and raised its target to $67.17, while RBC Capital also held its Buy, underscoring a divided but broadly constructive analyst backdrop for the silver miner.

1.897

July 14, 2026Pan American Silver declined amid a confluence of headwinds: spot silver slid toward $57–$58/oz as a stronger U.S. dollar and rising Treasury yields — driven by hawkish Fed expectations and renewed U.S.-Iran tensions around the Strait of Hormuz — pressured precious metals broadly. Jefferies cut its price target on PAAS for the second time this year, from $53 to $49, citing Q4 gold production that missed expectations, weaker 2026 production guidance, and anticipated cost and capex increases. The broader silver mining group traded lower alongside a basic materials sector that has underperformed for the week, though RBC Capital reiterated its Buy rating on PAAS, and the stock trimmed its losses slightly in after-hours trade.

-2.2212

July 11, 2026Pan American Silver closed modestly lower, retreating from recent lows after a sector-wide selloff on July 8 dragged the stock down over 5%. The key narrative is BofA Securities maintaining its Buy rating while naming PAAS a top precious metals pick, citing underpriced silver growth, rising capital returns, and dormant-asset upside — even as the firm cut its price target from $77 to $69 amid broader commodity forecast reductions across the sector. Investors are also looking ahead to the Q2 2026 earnings release scheduled for August 12, while analyst consensus remains constructive with a $69 average target implying roughly 56% upside.

-1.0199

July 10, 2026Pan American Silver rallied after rebounding from prior-session weakness, with shares gaining amid a broader recovery in precious metals sentiment. B of A Securities maintained its Buy rating on the stock while trimming its price target from $77 to $69, citing ongoing silver market dynamics — still implying substantial upside from current levels. The company also announced it will report Q2 2026 results after market close on August 12, keeping investors focused on its strong operational fundamentals, including record cash of ~$1.6B and Q1 silver output on track with full-year guidance. Silver supply constraints driven by demand from solar and EV sectors remain a key tailwind for the sector.

3.5681

July 9, 2026Pan American Silver fell sharply as a broad risk-off selloff swept markets after President Trump declared the Iran peace deal 'over,' sending oil surging 5%+ and triggering a global equities retreat. The decline was compounded by a steep drop in silver prices — spot silver slid to around $58.80, down over $2 on the day and threatening the key $60 support level — with peers like Hecla Mining and First Majestic Silver also tumbling. Bank of America trimmed its price target on PAAS to $69 from $77 while maintaining a Buy rating, though the analyst consensus median target of ~$72.66 still implies significant upside. The company's underlying fundamentals remain solid, with a record $1.6B cash balance and Q1 silver output on track to meet full-year guidance.

-3.5326

Simply Wall Street · July 17, 2026Is Pan American Silver’s (TSX:PAAS) La Colorada Skarn Progress Quietly Reframing Its Long-Term Narrative?Business Wire · July 9, 2026Pan American Silver to Announce Second Quarter 2026 Unaudited Financial ResultsMoomoo · July 6, 2026Jefferies Maintains Pan American Silver(PAAS.US) With Hold Rating, Raises Target Price to $53Business Wire · May 5, 2026Pan American Silver Reports First Quarter 2026 Financial Results; Strong Mine Operating Earnings Lead to Record Cash Balance and an Enhanced Shareholder Return FrameworkInvesting News Network · May 5, 2026Silver Stocks: 5 Biggest Silver-mining Companies in 2026
Benzinga · July 9, 2026B of A Securities Maintains Buy on Pan American Silver, Lowers Price Target to $69
Mt Newswire · July 8, 2026BofA Adjusts Price Target on Pan American Silver to $69 From $77, Maintains Buy Rating
Mt Newswire · June 30, 2026Orvana Minerals Expands Taguas Project Footprint as Acquires Claims for US$1.2 Million
Mt Newswire · June 3, 2026RBC Precious Metals Price Target Changes Brief: Lundin To C$98 From $113; PAAS To US$65 From $75; Agnico To US$230 From $280; Barrick To US$51 From $62
Mt Newswire · June 3, 2026RBC Adjusts Price Target on Pan American Silver to $65 From $75, Maintains Outperform Rating
Mt Newswire · June 1, 2026Correction: Pan American Silver Advances Plan to Extend Life of Timmins Mine in Ontario
Mt Newswire · June 1, 2026Pan American Silver Approves $146 Million Investment in Mine Development Plan
Mt Newswire · June 1, 2026Pan American Silver Advances Plan to Extend Life of Timmins Mine in Ontario

Peers

S&P 500SPX · $7,457.78-1.01%Agnico Eagle Mines LimitedAEM · $136.97-0.23%First Majestic Silver Corp.AG · $15.81-0.44%Wheaton Precious Metals Corp.WPM · $104.18-0.07%Coeur Mining, Inc.CDE · $14.35-2.97%Hecla Mining CompanyHL · $14.33-1.31%Kinross Gold CorporationKGC · $22.57-1.53%Alamos Gold Inc.AGI · $28.26+0.04%Fortuna Mining Corp.FSM · $8.16-0.85%B2Gold Corp.BTG · $3.67+0.27%Eldorado Gold CorporationEGO · $27.95-0.25%SSR Mining Inc.SSRM · $25.57-1.24%