Why Pan American Silver Corp. (PAAS) Is Getting Crushed -5.63% Today

Pan American Silver Corp. (NASDAQ:PAAS) is among the top losers of the stock market today, sinking -5.63% or (-1.28 points) to $21.45 from its previous close of $22.73. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 1332330 contracts so far this session. PAAS shares had a relatively better volume day versus average trading capacity of 2.9 million shares, but with a 0.21 billion float and a 1.52% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PAAS stock indicates that the average analyst price target is $22.71 per share. This means the stock has a potential increase of 5.87% from where the PAAS share price has been trading recently.

During the recent trading session for Pan American Silver Corp. (NASDAQ:PAAS), the company witnessed their stock drop by $-0.5 over a week and surge $0.23 from the price 20 days ago. When compared to their established 52-week high of $24.02, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/01/20. The recent low of $10.26 stood for a -10.7% since 05/30/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.27 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Pan American Silver Corp., the two-week RSI stands at 45.97. This figure suggests that PAAS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current PAAS readings is similarly very revealing as it has a stochastic reading of 30.02% at this stage. This figure means that PAAS share price today is being neutral.

Technical chart claims that Pan American Silver Corp. (PAAS) would settle between $23.19/share to $23.65/share level. However, if the stock price goes below the $22.16 mark, then the market for Pan American Silver Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $21.59 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.22. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at BofA/Merrill lowered their recommendation on shares of PAAS from Neutral to Underperform in their opinion released on January 16. Deutsche Bank analysts have lowered their rating of Pan American Silver Corp. (NASDAQ:PAAS) stock from Buy to Hold in a separate flash note issued to investors on January 09. Analysts at RBC Capital Mkts released an upgrade from Sector Perform to Outperform for the stock, in a research note that dated back to September 05.

PAAS equity has an average rating of 2.62, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 6 analysts rated Pan American Silver Corp. (NASDAQ:PAAS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Pan American Silver Corp. (PAAS)’s current-quarter revenues are projected to climb by nearly 138.2% to hit $412930, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 64.1% from $784500 to a noteworthy $1.29 billion. At the other end of the current quarter income statement, Pan American Silver Corp. is expected to see its adjusted earnings surge by roughly 2100% to hit $0.2 per share. For the fiscal year, PAAS’s earnings are projected to climb by roughly 56.4% to hit $0.61 per share.