Pan American Silver Corp. (PAAS) saw a big move last session, as the company’s shares fell by nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for PAAS, as the stock is now down over 23% in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the mining company has seen 2 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
PAAS currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Some better-ranked stocks in the same sector include U.S. Silica Holdings, Inc. (SLCA), with a Zacks Rank #1 (Strong Buy), Endeavour Silver Corp. (EXK) and Silvercrest Mines Inc. (SVLC), with a Zacks Rank #2 (Buy).
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