On August 29, Pan American Silver fell 5.03% in regular trading, trading at $52.18/share, with turnover of $293 million.

On the news front, spot gold broke below the $4,600/oz level, putting broad pressure on the precious metals sector. The U.S. July core PCE came in at +3.3% year-over-year, in line with expectations, which significantly boosted market expectations for a Fed rate hike next month. Rising interest rate expectations weighed on precious metals valuations across the board. Within the Gold sector, Coeur Mining fell 5.63%, Agnico Eagle Mines fell 4.7%, Barrick Mining fell 4.02%, Newmont Mining fell 3.84%, and Wheaton Precious Metals fell 3.76%.

Adding to the pressure, Pan American Silver's Q2 earnings reported on August 12 showed EPS of $0.73, missing the analyst consensus estimate of $1.04 by 29.81%. Revenue of $1.124 billion also fell short of the $1.158 billion estimate. The fundamental weakness from the earnings miss may have amplified the stock's decline relative to sector peers.

(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.)