Pan American Silver (PAAS) NewsBite - PAAS Upgraded By UBS

Posted: Thursday, August 13, 2009 11:29 AM EDT

Pan American Silver (PAAS) was upgraded today by analysts at UBS and the stock is now at $20.26, up $1.46 (7.77%) on volume of 694,137 shares traded. The analysts lifted PAAS to Buy from Neutral. Over the last 52 weeks the stock has ranged from a low of $8.93 to a high of $28.15. Pan American Silver stock has been showing support around $18.27 and resistance in the $19.43 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for PAAS. If you are looking for a hedged play on PAAS the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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