Panoro Minerals (CVE:PML) Sets New 52-Week High – Still a Buy?

Panoro Minerals Ltd. (CVE:PML) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$1.81 and last traded at C$1.79, with a volume of 70136 shares. The stock had previously closed at C$1.79.

Analysts Set New Price Targets

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

Panoro Minerals Stock Performance

The company’s fifty day simple moving average is C$1.54 and its 200 day simple moving average is C$1.11. The company has a current ratio of 0.04, a quick ratio of 0.81 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of C$539.02 million, a P/E ratio of -87.50 and a beta of 3.59.

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.