AbraSilver Resource (OTCMKTS:ABBRF) Stock Price Up 10.1% – Here’s Why

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. TD Securities began coverage on AbraSilver Resource in a research report on Monday, February 9th. They issued a “buy” rating on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of AbraSilver Resource in a report on Wednesday, January 14th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of AbraSilver Resource in a research report on Monday, January 26th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, AbraSilver Resource has a consensus rating of “Buy”.

AbraSilver Resource Price Performance

The company has a 50 day moving average of $9.95 and a 200 day moving average of $7.23.

AbraSilver Resource Company Profile

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.