Why Pan American Silver (PAAS) Stock Is Down Today

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

Analysis: The most likely driver appears to be a pullback in silver prices and a softer tone across precious-metals trading rather than any obvious company-specific setback. Pan American’s latest disclosed operating and financial updates were broadly solid, so today’s decline could be a case of commodity-linked profit taking after recent strength.

Details:

Spot silver traded lower on July 6, with the metal giving back part of its recent rebound as the U.S. dollar firmed and investors looked ahead to Fed minutes.

Pan American’s most recent quarterly update showed attributable silver production of 6.44 million ounces in Q1 2026, with output described as on track to meet full-year guidance.

The company also reported a record cash balance of about $1.6 billion at March 31, 2026, alongside an enhanced shareholder return plan that targets returning 35% to 40% of annual attributable free cash flow to shareholders.

In June, Pan American outlined a Timmins growth plan that includes roughly $146 million of investment for the first phase, while keeping 2026 guidance unchanged, which does not point to an obvious new negative operational catalyst.

Sources:

Pan American Silver ([panamericansilver.com](https://panamericansilver.com/es/news/pan-american-silver-reports-first-quarter026-financial-results-strong-mine-operating-earnings-lead-to-record-cash-balance-and-an-enhanced-shareholder-return-framework/)), Kitco ([kitco.com](https://www.kitco.com/news/article/2026-07-06/gold-slips-fed-minutes-loom-hormuz-risk-eases-oil-shock))

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 287 institutional investors add shares of $PAAS stock to their portfolio, and 229 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

VAN ECK ASSOCIATES CORP removed 18,055,972 shares (-45.6%) from their portfolio in Q1 2026, for an estimated $986,397,750
JANE STREET GROUP, LLC added 6,196,213 shares (+3488.2%) to their portfolio in Q1 2026, for an estimated $338,499,116
FMR LLC removed 5,581,556 shares (-81.4%) from their portfolio in Q1 2026, for an estimated $304,920,404
FIL LTD removed 3,442,328 shares (-47.1%) from their portfolio in Q1 2026, for an estimated $188,054,378
BLACKROCK, INC. removed 2,815,870 shares (-24.3%) from their portfolio in Q1 2026, for an estimated $153,830,978
QUBE RESEARCH & TECHNOLOGIES LTD added 2,427,887 shares (+1047.2%) to their portfolio in Q1 2026, for an estimated $132,635,466
MILLENNIUM MANAGEMENT LLC added 2,401,253 shares (+200.2%) to their portfolio in Q1 2026, for an estimated $131,180,451

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 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 $68.0.

Here are some recent targets:

Fahad Tariq from Jefferies set a target price of $53.0 on 07/06/2026
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

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.