CIBC Raises its Price Target on Pan American Silver Corp. (PAAS) to $88 and Reiterates an Outperformer Rating

Pan American Silver Corp. (NYSE:PAAS) is included among the 11 Best Mining Stocks to Buy According to Wall Street.

On February 4, 2026, CIBC analyst Cosmos Chiu raised the firm’s price target on Pan American Silver Corp. (NYSE:PAAS) to $88 from $70 and reiterated an Outperformer rating. The update followed a broader reset across the precious metals group after CIBC lifted its gold price assumptions to $6,000 per ounce in 2026 and $6,500 in 2027, alongside higher copper forecasts. The firm said the same demand drivers that supported the sector in 2025 remain in place for 2026, although geopolitical risk has intensified.

Earlier, on January 26, 2026, Scotiabank also raised its price target on Pan American Silver to $64 from $47 while maintaining an Outperform rating, citing higher gold and silver price assumptions driven by macro uncertainty and continued central bank buying.

On January 21, 2026, Pan American Silver Corp. (PAAS) released preliminary Q4 and full-year 2025 results and issued 2026 guidance. Attributable silver production reached 22.8 million ounces in 2025, exceeding guidance, supported by a record 7.3 million ounces produced in the fourth quarter. Gold production totaled 742,200 ounces, in line with expectations. The Juanicipio mine outperformed, contributing 2.5 million ounces of silver since its September acquisition and a $44 million dividend in December. For 2026, the company guided to 25.0–27.0 million ounces of silver and 700,000–750,000 ounces of gold, with silver AISC of $15.75–$18.25 per ounce and gold AISC of $1,700–$1,850 per ounce. Capital spending is expected to total $515–$550 million.

Pan American Silver Corp. (NYSE:PAAS) operates mining assets across the Americas, producing silver, gold, zinc, lead, and copper.

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