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 13.75% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.81%, 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 0.78% in the last 1 week, and is up 14.18% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Pan American Silver Corp. is up 41.97% in the last 3-month period. Year-to-Date the stock performance stands at 220.26%. The stock has recorded a 20-day Moving Average of 5.71% and the 50-Day Moving Average is 16.19%.
Pan American Silver (NASDAQ:PAAS): The stock opened at $20.94 on Friday but the bulls could not build on the opening and the stock topped out at $21.23 for the day. The stock traded down to $20.70 during the day, due to lack of any buying support eventually closed down at $20.77 with a loss of -3.22% for the day. The stock had closed at $21.46 on the previous day. The total traded volume was 2,690,445 shares.
Also, Brokerage firm Raymond James upgrades its rating on Pan American Silver (NASDAQ:PAAS). As per the latest information, the brokerage house raises the price target to $18.5 per share from a prior target of $15. The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. 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.