Pan American Silver (PAAS) slides as silver prices sell off and metals stocks drop broadly

Pan American Silver Corp. (PAAS) is down 8.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is a sharp pullback in silver prices, which typically pressures primary silver miners quickly due to their high leverage to spot prices. The move also appears consistent with a broader risk-off selloff across metals and mining equities tied to geopolitical headlines and a stronger U.S. dollar.

Details:

Silver fell roughly 5.8% on March 3, 2026 (to about $84.81/oz in the morning data), creating immediate downside pressure for silver-linked producers.

Metals and mining stocks sold off broadly in the same session, with large-cap miners posting steep declines as commodity prices fell in a risk-off tape.

PAAS also traded ex-dividend on March 2, 2026 for its recently increased $0.18 quarterly dividend, which can mechanically reduce the share price by the dividend amount even without any change in fundamentals.

Recent company updates highlighted record 2025 results and higher 2026 silver production guidance, suggesting today’s drop is more macro/commodity-driven than company-specific.

Sources:

Pan American Silver (company news release), Barron’s, FXStreet

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 271 institutional investors add shares of $PAAS stock to their portfolio, and 259 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.