AbraSilver Resource (OTCMKTS:ABBRF) Shares Down 7.8% – Should You Sell?

AbraSilver Resource Corp. (OTCMKTS:ABBRF) shares were down 7.8% during mid-day trading on Thursday . The stock traded as low as $9.4320 and last traded at $9.6140. Approximately 428,889 shares changed hands during trading, an increase of 85% from the average daily volume of 231,221 shares. The stock had previously closed at $10.43.

Analyst Upgrades and Downgrades

Separately, Scotiabank restated an “outperform” rating on shares of AbraSilver Resource in a research report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, AbraSilver Resource has a consensus rating of “Buy”.

AbraSilver Resource Stock Performance

The company has a 50 day simple moving average of $11.84 and a two-hundred day simple moving average of $10.00.

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.