Pan American Silver (PAAS) : Traders are bullish on Pan American Silver (PAAS) as it has outperformed the S&P 500 by a wide margin of 8.43% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.27%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.2% in the last 1 week, and is up 12.07% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 7% and the 50-Day Moving Average is 20.31%. Pan American Silver Corp. is up 24.55% in the last 3-month period. Year-to-Date the stock performance stands at 200.68%.
Pan American Silver (NASDAQ:PAAS): stock turned positive on Friday. Though the stock opened at $19, the bulls momentum made the stock top out at $19.63 level for the day. The stock recorded a low of $18.8916 and closed the trading day at $19.5, in the green by 3.83%. The total traded volume for the day was 2,566,310. The stock had closed at $18.78 in the previous days trading.
Also, Raymond James upgrades its view on Pan American Silver (NASDAQ:PAAS) according to the research report released by the firm to its investors. The shares have now been rated Outperform by the stock experts at the ratings house. Earlier, the shares had a rating of Market Perform. Raymond James raises the price target from $15 per share to $18.5 per share on Pan American Silver . The rating by the firm was issued on June 27, 2016.
Pan American Silver Corp (Pan American) is a Canada-based company engaged in the development and exploration of silver producing properties and assets. The Companys principal product is silver, and also produces and sells gold, zinc, lead, and copper. It is engaged in mining operations and is developing mining projects in Mexico, Peru, Argentina and Bolivia, and has control over non-producing silver assets in each of those jurisdictions and in the United States. The Companys principal products and sources of sales are silver and gold ore, as well as silver bearing zinc, lead, and copper concentrates. It operates, among others, the Huaron, Morococha, Alamo Dorado, Dolores, La Colorada, Manantial Espejo and San Vicente mines.