Back to top

Pan American Silver Slides After Q2 Earnings Misses Expectations

Pan American Silver Corp. (PAAS) is down 9.7% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely catalyst was the company’s second-quarter 2026 earnings release, which appears to have come in below Wall Street expectations on both earnings and revenue. Even though the business still showed strong year-over-year growth, investors likely focused on the headline miss and on signs that some revenue and production timing benefits may be shifting later in the year.

Details:

  • Pan American Silver released Q2 2026 results after the market close on August 12, with an investor call scheduled for August 13.
  • Quarterly revenue was about $1.12 billion and EPS was about $0.73, both below consensus estimates, which can trigger a sharp reset in short-term sentiment.
  • Management commentary heading into the quarter had pointed to inventory build and concentrate shipment timing, especially at La Colorada, as factors that could weigh on the timing of reported revenue.
  • The broader setup also included some expected production shifting into the second half and gold output timing moving toward Q4, which may have made the earnings shortfall harder for investors to overlook.

    • Sources:

    Pan American Silver, TipRanks, Stockcircle

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

    EARLY ACCESS
    Receive PAAS Data Alerts
    Real-time alerts on filings, insider trades, and market signals — before everyone else.
    Get Alerts →

    $PAAS Hedge Fund Activity

    We have seen 283 institutional investors add shares of $PAAS stock to their portfolio, and 273 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
    • JPMORGAN CHASE & CO added 2,443,216 shares (+inf%) to their portfolio in Q2 2026, for an estimated $109,431,644
    • 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 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 $70.5.

    Here are some recent targets:

    • Lawson Winder from B of A Securities set a target price of $69.0 on 07/09/2026
    • 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

    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.

    Read full article here »

    In-Depth Zacks Research for the Tickers Above

    Normally $25 each - click below to receive one report FREE:

    Pan American Silver Corp. (PAAS)