On June 10, Pan American Silver fell 5.03% in regular trading, trading at $45.23/share, with trading volume of $146 million. The decline reflects continued fallout from a significant target price reduction by a major institution amid broader precious metals sector weakness.
Royal Bank of Canada recently lowered its target price on Pan American Silver from $75 to $65, a 13% reduction, while maintaining its outperform rating. Since the downgrade, the stock has retreated from approximately $49 to the $45 range, accumulating substantial losses. The current FactSet consensus analyst target stands at $72.66 with a buy rating, suggesting the market selloff has exceeded institutional expectations.
Within the Gold sector, the broader group continued to decline. Among individual stocks, Coeur Mining fell 5.71%, Kinross fell 4.64%, Agnico Eagle Mines fell 3.13%, Barrick Mining fell 2.93%, and Newmont Mining fell 2.8%, reflecting sector-wide selling pressure in precious metals miners.
(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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