Pan American Silver price target lowered to $46 from $50 at BofA

BofA lowered the firm’s price target on Pan American Silver (PAAS) to $46 from $50 and keeps a Buy rating on the shares. The firm is refreshing its price forecasts for North American Metals & Mining stocks under its coverage, the analyst tells investors. The firm sees the macro backdrop as challenging due to China’s slowing commodity demand but notes this may be offset by a rebound in demand in U.S. and Europe.