UPDATE: BMO Capital Markets Downgrades Pan American Silver to Market Perform on Flight to Quality Report

In a report published Monday, BMO Capital Markets analyst Andrew Kaip downgraded the rating on Pan American Silver Corp. (NASDAQ: PAAS ) from Outperform to Market Perform, and lowered the price target from $30.00 to $19.50. In the report, Kaip noted, “BMO Research has reduced 2013E silver price assumptions by