New York, Jan 12, 2026, 05:30 EST — Premarket
- PAAS was up about 4.5% in premarket trade, tracking a surge in silver.
- Silver futures climbed roughly 6% early Monday as investors piled into hard assets.
- Pan American’s next big scheduled catalyst is its Feb. 18 results, with conferences later this month.
Pan American Silver Corp shares rose 4.5% in U.S. premarket trading on Monday, lifting the stock to $56.70 as precious metals ripped higher. 1
Silver hit fresh records as investors rushed into “hard” assets after headlines around a criminal probe involving Federal Reserve Chair Jerome Powell and a sharper geopolitical backdrop. “With the Fed’s independence now openly contested,” investors were shifting toward hard assets, said Zain Vawda, an analyst at MarketPulse by OANDA. 2
Silver futures were last up about 6% on CME’s Globex session early Monday. That matters for miners because revenue is tied to the metal price, while costs don’t move in lockstep — a setup that can amplify gains and losses in the share price. 3
Pan American ended the last regular U.S. session on Friday up 2.2% at $54.27, after trading between $53.32 and $54.79, according to Yahoo Finance data. 4
The move looked sector-wide. Hecla Mining, First Majestic Silver and Coeur Mining were all higher in early indications, and the Global X Silver Miners ETF also rose.
The backdrop is messy. The Powell investigation story has stirred fears about central-bank independence and knocked risk appetite, pushing money toward metals and away from the dollar-linked trade, the Financial Times reported. 5
For Pan American, investors are now looking past the open and toward scheduled checkpoints. The company is due at the CIBC Western Conference on Jan. 21-23 and TD Cowen’s global mining conference on Jan. 27-29, and it has its fourth-quarter and year-end 2025 financial results set for Feb. 18. 6
A lot will come down to how much of Monday’s metal move sticks. Silver has a habit of gapping higher, then giving it back when volatility spikes and traders take profit.
There’s also the company-specific risk investors can’t hedge with a futures contract: mining costs, operational hiccups and permitting or tax surprises across the jurisdictions where it operates. If the metal cools while costs stay hot, margins compress fast.
