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Upgrade Alert for Pan American Silver (PAAS)

By Shiri Gupta

Pan American Silver (NASDAQ:PAAS) was upgraded from Market Perform to Outperform at Raymond James today. The stock closed yesterday at $14.82 on volume of 5.4 million shares, above average daily volume of 2.7 million.

Pan American Silver Corporation is a silver mining company with its principal property in Peru. The Company also explores and develops mines in Mexico.

Over the past year, Pan American Silver has traded in a range of $5.38 to $16.49 and closed yesterday at $14.82, 175% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.8% while the 200-day MA has risen 1.9%.

Based on a current price of $14.82, Pan American Silver is currently 46.9% above its average consensus analyst price target of $7.87. The stock should find initial support at its 50-day moving average (MA) of $11.77 and further support at its 200-day MA of $8.21.

SmarTrend is tracking the current trend status for Pan American Silver and will alert subscribers who have PAAS in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades pan american silver

Ticker(s): PAAS