AbraSilver Resource (OTCMKTS:ABBRF) Trading Up 10.1% – What’s Next?

AbraSilver Resource Corp. (OTCMKTS:ABBRF)’s share price rose 10.1% during mid-day trading on Monday . The company traded as high as $8.15 and last traded at $7.99. Approximately 894,400 shares changed hands during trading, an increase of 210% from the average daily volume of 288,780 shares. The stock had previously closed at $7.26.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Raymond James Financial restated an “outperform” rating on shares of AbraSilver Resource in a research report on Wednesday, January 14th. Scotiabank reaffirmed an “outperform” rating on shares of AbraSilver Resource in a report on Monday, January 26th. Finally, TD Securities initiated coverage on shares of AbraSilver Resource in a research note on Monday, February 9th. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

AbraSilver Resource Price Performance

The stock has a 50-day simple moving average of $9.95 and a 200 day simple moving average of $7.23.

About AbraSilver Resource

AbraSilver Resource Corp. operates as an exploration company in Argentina, Chile, and Canada. It primarily explores for silver, gold, and copper. It holds interest in the Diablillos property located in the Salta province of northwestern Argentina; and the Aguas Perdidas project located in Chubut Province, Argentina. It also has an option agreement to acquire a 100% interest in the La Coipita project in San Juan province, Argentina. The company was formerly known as AbraPlata Resource Corp. and changed its name to AbraSilver Resource Corp.