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Pan American Silver Corp
Company Overview: Pan American Silver Corp. (NYSE: PAAS) is a Canada-based company, which is engaged in silver and gold mining and related activities, including exploration, mine development, extraction, processing, refining and reclamation.
As per our previous US Inflation report published on ‘PAAS’ on 27th October 2023, Kalkine provided a ‘Buy’ stance on the stock at USD 15.03 based on “PAAS strong Q2FY23 financial performance, characterized be a revenue increase, impressive net income and earnings per share growth, robust cash flow management, and along with positive forward guidance” and the stock price has now moved by ~26.55% since then and the price has crossed resistance 1 and resistance 2.
Noted below are the details of support and resistance levels provided in our previous report:
PAAS’s Daily Chart
Considering the resistance around the range of USD 19.00 – USD 20.00, attainment of resistance 1, current trading levels, risks associated, and volatile market conditions on the back of higher interest rates, a ‘Sell’ rating is assigned to the “PAAS” at the current market price of USD19.02 (as of 09 April 2024, at 06:50 am PDT).
Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is April 09, 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.
Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’
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