Silver Slips Below $61, Dragging Hecla and Pan American Lower

Silver miners came under pressure Friday as spot silver slipped below roughly $61 per ounce. Hecla Mining fell nearly 6% on the commodity weakness, with Pan American Silver declining alongside the broader precious-metals complex.

The pullback follows a strong stretch for the group. Hecla is debt-free after retiring its last senior notes in April and holds a $225 million undrawn revolver, while Pan American reported record cash of about $1.6 billion in the first quarter and is targeting 35-40% of free cash flow for shareholder returns.

Analysts remain constructive on the sector, citing tight supply, with consensus Buy ratings on Pan American and a $51 average price target. Investors will watch whether silver's dip proves a pause in the bull run or the start of a deeper correction.