Panoro Minerals (CVE:PML) Shares Pass Above 200-Day Moving Average – Here’s Why

Panoro Minerals Ltd. (CVE:PML) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$1.21 and traded as high as C$1.97. Panoro Minerals shares last traded at C$1.92, with a volume of 48,095 shares traded.

Analyst Ratings Changes

Separately, Raymond James Financial set a C$4.25 target price on shares of Panoro Minerals and gave the company an “outperform” rating in a report on Friday, July 31st. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Panoro Minerals currently has a consensus rating of “Buy” and a consensus price target of C$4.25.

Panoro Minerals Price Performance

The stock has a market cap of C$591.38 million, a PE ratio of -64.00 and a beta of 3.59. The business’s 50-day simple moving average is C$1.64 and its 200-day simple moving average is C$1.21. The company has a quick ratio of 0.81, a current ratio of 0.04 and a debt-to-equity ratio of 0.35.

About Panoro Minerals

Panoro Minerals Ltd., an exploration-stage company, engages in the acquisition, exploration, and development of mineral properties in Peru. The company explores for copper, molybdenum, lead, gold, silver, and zinc deposits. Its flagship project is the Cotabambas project located in the southern Peru. The company was formerly known as Panoro Resources Ltd. and changed its name to Panoro Minerals Ltd. in June 2003. Panoro Minerals Ltd. was incorporated in 1994 and is headquartered in Vancouver, Canada.