Jefferies lowered the firm’s price target on Pan American Silver (PAAS) to $54 from $58 and keeps a Hold rating on the shares. The firm cites the company’s Q4 production results coming mixed, with gold volumes having missed and silver volumes beating consensus estimates, the analyst tells investors in a research note. 2026 guidance also calls for lower than expected production volumes across all metals and higher costs, capex, and cash taxes, the firm added.
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