Pan American Silver falls as silver prices pull back and investors weigh Mexico disruption risk

Pan American Silver Corp. (PAAS) is down 3.2% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is a pullback in silver prices, which tends to pressure sentiment across primary silver miners. The decline may have been amplified by renewed operational-risk headlines in Mexico tied to a reported blockade affecting the La Colorada mine, alongside routine post-rally profit-taking after a strong early-May earnings update.

Details:

Silver moved lower amid a risk-off macro backdrop that has weighed on non-yielding precious metals, which can translate quickly into weaker miner equities.

Local media coverage described a blockade-related disruption at the La Colorada mine in Zacatecas, with the company pursuing legal action and warning operations could be suspended if impacts persist.

Earlier in May, the company highlighted strong Q1 2026 free cash flow generation, a record cash balance, and an updated 2026 shareholder-return framework, which may have set up a “sell the news” reaction as traders recalibrated expectations.

This could also reflect broader volatility across precious-metals equities, where share moves can exceed the day-to-day change in the underlying metal.

Sources:

Pan American Silver (Investor Relations), Milenio, FXStreet

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

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$PAAS Hedge Fund Activity

We have seen 283 institutional investors add shares of $PAAS stock to their portfolio, and 257 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
JANE STREET GROUP, LLC added 6,196,213 shares (+3488.2%) to their portfolio in Q1 2026, for an estimated $338,499,116
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
INVESCO LTD. removed 3,908,524 shares (-39.5%) from their portfolio in Q4 2025, for an estimated $202,500,628
BLACKROCK, INC. removed 2,815,870 shares (-24.3%) from their portfolio in Q1 2026, for an estimated $153,830,978
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. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$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. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$PAAS Analyst Ratings

Wall Street analysts have issued reports on $PAAS in the last several months. We have seen 1 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

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 5 analysts offer price targets for $PAAS in the last 6 months, with a median target of $64.0.

Here are some recent targets:

Wayne Lam from TD Cowen set a target price of $72.0 on 05/12/2026
Josh Wolfson from RBC Capital set a target price of $75.0 on 04/28/2026
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

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.