US Stocks Move | Pan American Silver drops over 3% pre-market as silver prices slump and institutions lower target prices

Golden Ten Data July 13｜Pan American Silver (PAAS.US) dropped 3% pre-market to $42.35. According to reports, Jefferies lowered the target price of Pan American Silver from $53 to $49, marking the second downward adjustment this year—the previous adjustment was in January 2026, from $58 to $54. This was due to the company’s Q4 gold production missing expectations, a weaker 2026 production guidance, and anticipated rises in costs and capital expenditure. Besides the institutional target price reduction, the recent sluggishness in spot silver has also been a significant drag.