PAAS Should I Buy
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Buy now (dip-buy). PAAS is down sharply pre-market (-8.53% to 57.89), but the broader setup still favors upside: the primary trend remains bullish (SMA_5 > SMA_20 > SMA_200), options positioning is strongly call-skewed, silver-focused news flow is decisively bullish, hedge funds have been increasing exposure, and Wall Street price targets were recently raised meaningfully (BofA up to $73; Scotiabank up to $64). With no Intellectia AI Stock Picker or SwingMax buy signal today, this is not a “system-confirmed” entry, but for an impatient buyer the current pullback is close to the next key support zone (S1 ~55.14), making it a reasonable buy-the-dip location rather than chasing near resistance.
Trend/structure: Bullish moving-average stack (SMA_5 > SMA_20 > SMA_200) signals the larger trend is still up despite today’s pre-market selloff. Momentum: MACD histogram is positive (0.517) but “positively contracting,” implying upside momentum is weakening short-term (consistent with a pullback/volatility spike). RSI(6) at 61.41 is neutral-to-slightly warm (not overbought). Levels: Current pre-market 57.89 is below the pivot (61.496), which is a short-term bearish/defensive tell for today, but it is approaching support S1 (55.139). If S1 holds, a rebound back toward the pivot (61.5) is the first upside objective; resistance above is R1 67.852 then R2 71.779. Pattern-based forward view (provided): ~90% chance of +2.49% next day, -2.42% next week, +4.52% next month—suggesting choppy near-term but still constructive medium-term.
Strong silver macro narrative in news: silver >$100/oz with forecasts to $124; multi-year supply deficits; industrial demand (solar/EV) expanding—supports higher realized prices and improved sentiment for silver miners.
Analyst target raises and reiterated bullish ratings (BofA Buy to $73; Scotiabank Outperform to $
highlight multiple potential catalysts and a more bullish commodity deck.
Hedge funds net buying surged (+269.91% QoQ), typically supportive of price momentum and dips getting bought.
Earnings catalyst ahead: QDEC 2025 earnings on 2026-02-23 (after hours) with Street EPS est. 0.87—potential for guidance/price-leverage upside if metals prices remain elevated.
Today’s sharp pre-market drop (-8.53%) plus MACD momentum contracting suggests near-term volatility and potential further downside before stabilizing.
Jefferies (Hold) cut target to $54 and flagged mixed production plus 2026 guidance with lower volumes and higher costs/capex/cash taxes—operational/cost pressure risk if metals prices cool.
Technically, price is below the pivot (61.496); failure to hold S1 (~55.
increases risk of a deeper flush toward S2 (~51.21).
Elevated implied volatility (IV percentile 82.
indicates the market is braced for large moves—timing risk is higher for immediate entries.
Latest reported quarter provided: 2025/Q3. Growth was strong and accelerating: Revenue 854.6M (+19.34% YoY), Net Income 168.6M (+197.35% YoY), EPS 0.44 (+175% YoY), and Gross Margin 36.63% (+52.88% YoY). This profile indicates improving profitability and operating leverage—important for a miner that benefits disproportionately when underlying metal prices rise.
Recent trend: Net positive. Multiple price-target increases and reiterated bullish stances dominate (BofA raised targets multiple times, most recently to $73 with a Buy; Scotiabank raised to $64 with Outperform). The main dissent is Jefferies maintaining Hold and trimming target to $54 due to mixed production and softer/higher-cost 2026 guidance. Wall Street pros: leveraged exposure to a bullish silver demand/supply setup; potential catalysts ahead; improved commodity forecasts. Wall Street cons: execution/cost inflation risk and potentially lower-than-expected production guidance, which could cap upside if metals prices don’t keep rising.
