Pan American Silver price target lowered to $17.50 from $18.50 at TD Securities

TD Securities lowered the firm’s price target on Pan American Silver to $17.50 from $18.50 and keeps a Buy rating on the shares. Despite having pre-released quarterly production estimates, Pan American’s Q4 results were weaker than expected, driven by higher operating and royalty costs, the analyst tells investors in a research note. The firm says management noted the company will continue to evaluate potential asset sales through 2024, which could be a positive catalyst for the shares.