On June 5, Pan American Silver fell 5.05% in regular trading, trading at $49.22/share, with trading volume of $118 million. The decline came amid broad-based selling across the precious metals sector, compounded by a notable target price cut from a major institution.
Royal Bank of Canada recently lowered its target price on Pan American Silver from $75 to $65, a reduction of approximately 13%, while maintaining its outperform rating. The current FactSet consensus among analysts shows an average target price of $72.66 with a buy rating. The downward revision from RBC appears to have intensified selling pressure on the stock.
The broader Gold sector experienced significant weakness, with peers declining sharply: Coeur Mining down 9.36%, Kinross down 6.01%, Agnico Eagle Mines down 5.35%, Newmont Mining down 5.35%, and Barrick Mining down 5.14%, reflecting a sector-wide selloff pattern.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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