Pan American Silver is trading 5.5% lower at $45.40 after-hours amid precious-metals weakness; the precise catalyst remains unclear. - It closed at $48.03 on September 25, 2026; silver ended Friday down 1.10% and gold down 0.55%. - No September 25 company announcement appears in its news-release listing; its latest release was a September 16 mineral-reserves update. The broader market rose, so its rally does not explain the after-hours decline.