On September 28, Pan American Silver fell 5.08% in pre-market trading, trading at $45.68/share, with turnover of $462,200.

The decline came amid broad-based selling across the gold and precious metals sector, driven by escalating expectations that the Federal Reserve will continue tightening monetary policy. The Fed recently raised interest rates by 25 basis points and signaled at least one additional hike this year, pushing the U.S. dollar index to its highest level since late July. The stronger dollar weighed heavily on precious metals, with spot gold recently falling 1.72% to $4,283/oz.

Within the Gold sector, peers declined in lockstep: Coeur Mining fell 5.31%, Wheaton Precious Metals dropped 4.92%, Kinross slid 4.48%, Newmont Mining lost 4.43%, and Barrick Mining declined 4.27%.

Adding to company-specific headwinds, Pan American Silver reported Q2 earnings per share of $0.73, missing the analyst consensus estimate of $1.04 by approximately 30%. Revenue of $1.124 billion also came in below the $1.158 billion estimate, despite representing a 38% year-over-year increase.

(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.)