Silver Prices Plummet: Over $2 Billion Lost in a Day for U.S. Silver Miner

Pan American Silver Corp (PAAS) plunged 8.91% on the New York Stock Exchange, closing at $52.41 on trading volume of about 5.82 million shares. Its market capitalization stands at roughly $22 billion (around KRW 32 trillion), meaning about $1.8 billion—mid-KRW 20 trillion range—was wiped out in a single day.

Analysts say that weaker silver prices weighed on Pan American Silver’s shares alongside those of other major silver miners. Recently, the company reported that its 2025 silver production is expected to reach 22.8 million ounces—above the top end of its annual guidance—and that quarterly free cash flow hit a record high, enabling a dividend increase and underscoring solid fundamentals.

Pan American Silver is one of the world’s largest silver producers, operating multiple gold and silver mines across North, Central and South America. It has aggressively expanded its production capacity and asset base through the acquisitions of Yamana Gold in 2023 and MAG Silver in 2025.