Panoro Minerals (CVE:PML) Reaches New 1-Year High – Here’s Why

Panoro Minerals Ltd. (CVE:PML)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$1.81 and last traded at C$1.68, with a volume of 55090 shares. The stock had previously closed at C$1.66.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial set a C$4.25 target price on Panoro Minerals and gave the stock 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 company currently has a consensus rating of “Buy” and an average price target of C$4.25.

Panoro Minerals Price Performance

The business’s fifty day moving average is C$1.49 and its 200-day moving average is C$1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.04 and a quick ratio of 0.81. The firm has a market cap of C$520.54 million, a PE ratio of -84.50 and a beta of 3.59.

Insider Buying and Selling

In related news, Director William John Boden sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of C$1.28, for a total transaction of C$51,200.00. Following the sale, the director directly owned 12,202,720 shares in the company, valued at approximately C$15,619,481.60. This represents a 0.33% decrease in their position. 17.34% of the stock is currently owned by company insiders.

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.