Pan American Silver Corp. PAAS is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for PAAS broke out above the 200 Day Simple Moving Average, suggesting a short-term bullish trend.
This has already started to take place, as the stock has moved higher by 19.3% in the past four weeks. Plus, the company currently has a Zacks Rank #2 (Buy) suggesting that now could definitely be the time for this breakout candidate.
More bullishness may especially be the case when investors consider what has been happening for PAAS on the earnings estimate revision front lately. No estimates have gone lower in the past two months, compared to 5 higher, while the consensus estimate has also moved higher too.
So given this move in estimates, and the positive technical factors, investors may want to watch this breakout candidate closely for more gains in the near future.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Pan American Silver Corp. (PAAS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research