Could Pan American Silver Corp. Increase Even More? The Stock Just Had a Gap Up

 Could Pan American Silver Corp. Increase Even More? The Stock Just Had a Gap Up

The stock of Pan American Silver Corp. (TSE:PAA) gapped up by $0.41 today and has $28.98 target or 26.00% above today’s $23.00 share price. The 5 months technical chart setup indicates low risk for the $3.56B company. The gap was reported on Nov, 9 by Barchart.com. If the $28.98 price target is reached, the company will be worth $925.60M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 415,769 shares traded hands. Pan American Silver Corp. (TSE:PAA) has risen 53.17% since April 5, 2016 and is uptrending. It has outperformed by 48.38% the S&P500.

Pan American Silver Corp. (TSE:PAA) Ratings Coverage

Out of 4 analysts covering Pan American Silver Corp. (TSE:PAA), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $13 is the highest target while $10 is the lowest. The $11.40 average target is -50.43% below today’s ($23) stock price. Pan American Silver Corp. has been the topic of 5 analyst reports since September 1, 2015 according to StockzIntelligence Inc. IBC upgraded Pan American Silver Corp. (TSE:PAA) on Monday, February 22 to “Sector Performer” rating. The stock of Pan American Silver Corp. (TSE:PAA) earned “Neutral” rating by JP Morgan on Thursday, February 4. The stock of Pan American Silver Corp. (TSE:PAA) has “Outperform” rating given on Tuesday, September 1 by Scotia Capital. The rating was maintained by RBC Capital Markets with “Sector Perform” on Wednesday, February 3.

More recent Pan American Silver Corp. (TSE:PAA) news were published by: Prnewswire.com which released: “Technical Roundup on Silver Stocks — Endeavour Silver, Pan American Silver …” on November 09, 2016. Also Forbes.com published the news titled: “See How Pan American Silver Corp. Ranks Among Analysts’ Top Metals Picks” on January 13, 2016. Prnewswire.com‘s news article titled: “Pan American Silver Corp. – Early Warning Report” with publication date: May 02, 2016 was also an interesting one.

Pan American Silver Corp. is engaged in the production and sale of silver, gold and base metals including copper, lead and zinc, as well as other related activities, including exploration, extraction, processing, refining and reclamation. The company has a market cap of $3.56 billion. The Company’s primary product (silver) is produced in Peru, Mexico, Argentina and Bolivia. It currently has negative earnings. The Firm has project development activities in Peru, Mexico and Argentina, and exploration activities throughout South America, Mexico, and the United States.

PAA.TO Company Profile

Pan American Silver Corp. (Pan American), incorporated on March 7, 1979, is engaged in the production and sale of silver, gold and base metals including copper, lead and zinc, as well as other related activities, including exploration, extraction, processing, refining and reclamation. The Company’s primary product (silver) is produced in Peru, Mexico, Argentina and Bolivia. The Firm has project development activities in Peru, Mexico and Argentina, and exploration activities throughout South America, Mexico, and the United States. The Company’s properties consist of the Huaron and Morococha mines located in Peru, the Alamo Dorado, La Colorada and Dolores mines located in Mexico, the San Vicente mine located in Bolivia and the Manantial Espejo mine located in Argentina. The Company’s subsidiaries include Pan American Silver Huaron S.A. (PAS Huaron), Compania Minera Argentum S.A., Minera Corner Bay S.A. de C.V., Plata Panamericana S.A. de C.V., Compania Minera Dolores S.A. de C.V., Minera Triton Argentina S.A. (MTA), Pan American Silver (Bolivia) S.A. (PASB) and Minera Argenta S.A.

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