Pan American Silver (PAAS) : Analyst Rating Update

Pan American Silver (PAAS) : 10 analysts are covering Pan American Silver (PAAS) and their average rating on the stock is 2.6, which is read as a Hold. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Pan American Silver (PAAS) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. 1 more analyst has given the stock a Sell recommendation. A total of 6 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Pan American Silver (PAAS) stock is expected to deviate a maximum of $2.53 from the average target price of $14.04 for the short term period. 7 Street Experts have initiated coverage on the stock with the most promising target being $18 and the most muted being $11.

Pan American Silver (NASDAQ:PAAS): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $18.04 and $17.83 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $18.41. The buying momentum continued till the end and the stock did not give up its gains. It closed at $18.36, notching a gain of 3.90% for the day. The total traded volume was 4,010,723 . The stock had closed at $17.67 on the previous day.

Also, In a research note released to the investors, Raymond James upgrades its rating on Pan American Silver (NASDAQ:PAAS).The analysts at the brokerage house have a current rating of Outperform on the shares. Earlier, the shares were rated a Market Perform by the brokerage firm. In a recent information released to the investors, Raymond James raises the new price target from $15 per share to $18.5 per share. The rating by the firm was issued on June 27, 2016. The company shares have rallied 118.69% from its 1 Year high price. On Jul 5, 2016, the shares registered one year high at $18.03 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $15.11 and the 200 Day Moving Average price is recorded at $11.31.

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.

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