AbraSilver Resource (OTC:ABBRF) Trading Down 11.1% – Time to Sell?

AbraSilver Resource Corp. (OTC:ABBRF)’s stock price was down 11.1% during trading on Thursday . The stock traded as low as $8.90 and last traded at $8.9042. Approximately 235,978 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 271,695 shares. The stock had previously closed at $10.0180.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. National Bankshares reaffirmed an “outperform” rating on shares of AbraSilver Resource in a report on Thursday, October 23rd. Raymond James Financial restated an “outperform” rating on shares of AbraSilver Resource in a research report on Wednesday, January 14th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of AbraSilver Resource in a research report on Monday, January 26th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.

AbraSilver Resource Stock Down 11.1%

The firm’s 50 day simple moving average is $8.17 and its two-hundred day simple moving average is $5.84.

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.