Pan American Silver (PAAS) slides 6.1% as silver-linked miners pull back; stock’s move appears macro-driven

Pan American Silver Corp. (PAAS) is down 6.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The day’s drop looks more consistent with a broader pullback in precious-metals exposure (silver price volatility, shifting rate expectations, and risk appetite) than with a new, company-specific negative announcement. After a strong run in many silver-related equities earlier this year, a single-session decline of this size can also reflect profit-taking and leverage to intraday silver moves.

Details:

Pan American’s most recent major update highlighted record 2025 financial results and issued 2026 operating guidance, which set investor expectations heading into 2026 and can amplify sensitivity to silver price swings.

The company announced in early March that it received acceptance to renew its normal course issuer bid (share buyback program), a corporate action that can influence near-term trading flows but did not prevent today’s selloff.

A recent exploration update at La Colorada discussed new high-grade vein discoveries, which is constructive longer-term but typically does not override day-to-day macro moves in silver.

This could also be because silver and gold prices have been notably volatile in recent weeks, and miners often move more than the underlying metal during rapid sentiment shifts.

Sources:

Pan American Silver (Investor Relations), SEC, DTN

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PAAS Hedge Fund Activity

We have seen 270 institutional investors add shares of $PAAS stock to their portfolio, and 260 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FOURTH SAIL CAPITAL LP removed 17,901,528 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $927,478,165
VAN ECK ASSOCIATES CORP removed 5,559,160 shares (-12.3%) from their portfolio in Q4 2025, for an estimated $288,020,079
FIL LTD added 4,438,478 shares (+154.7%) to their portfolio in Q4 2025, for an estimated $229,957,545
BLACKROCK, INC. added 4,250,372 shares (+57.8%) to their portfolio in Q4 2025, for an estimated $220,211,773
CAPITAL INTERNATIONAL INVESTORS added 4,159,115 shares (+inf%) to their portfolio in Q4 2025, for an estimated $215,483,748
INVESCO LTD. removed 3,908,524 shares (-39.5%) from their portfolio in Q4 2025, for an estimated $202,500,628
AMERIPRISE FINANCIAL INC removed 2,101,184 shares (-59.6%) from their portfolio in Q4 2025, for an estimated $108,862,343

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$PAAS Congressional Stock Trading

Members of Congress have traded $PAAS stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $PAAS stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. sold up to $100,000 on 01/27.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$PAAS Analyst Ratings

Wall Street analysts have issued reports on $PAAS in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

B of A Securities issued a "Buy" rating on 12/01/2025
Scotiabank issued a "Sector Outperform" rating on 10/23/2025
CIBC issued a "Outperformer" rating on 10/10/2025

To track analyst ratings and price targets for $PAAS, check out Quiver Quantitative's $PAAS forecast page.

$PAAS Price Targets

Multiple analysts have issued price targets for $PAAS recently. We have seen 4 analysts offer price targets for $PAAS in the last 6 months, with a median target of $58.0.

Here are some recent targets:

Ovais Habib from Scotiabank set a target price of $64.0 on 01/26/2026
Fahad Tariq from Jefferies set a target price of $54.0 on 01/21/2026
Lawson Winder from B of A Securities set a target price of $51.0 on 12/01/2025
Cosmos Chiu from CIBC set a target price of $62.0 on 10/10/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.