big picture
Geology (and geological ideas) functions at a glacial pace. This is clearly reflected in the mining sector and most mining stocks, especially on the TSX.
PAAS (aka. "silver") is no different. Long term, it has touched its multi-decade highs now 3 times since it went public. Fourth time the supply area probably won't hold and we'll go through it, albeit it will take at least a whole quarter if not more to do so.
But, as of right now, we are crossing through the 50% retrace on-route to the $38-39 area (88.6% fib). This will most likely take the next 3 to 4 quarters to achieve, but it should be slow and steady progress.
A better operated company like AEM show what good management and agility can do. They are following the same basic pattern as PAAS, but shareholder appreciation of managements achievements is reflected accordingly.
PAAS management on the other hand, are like an old boys club. They think they operate at an optimal level by driving a ferrari, but they passed their prime some 20-30 years ago and are now being smoked by teslas.
PAAS stock price will be pulled up by the industry as a whole (and silver), but whereas other miners will clear new highs by hitting upwards of 38-62% higher above their all time highs, PAAS will struggle to cross the $40-45 level and get to their 38% above new highs.
These are all super longer term plays. Especially if you are willing to hold for multiple years.
PAAS (aka. "silver") is no different. Long term, it has touched its multi-decade highs now 3 times since it went public. Fourth time the supply area probably won't hold and we'll go through it, albeit it will take at least a whole quarter if not more to do so.
But, as of right now, we are crossing through the 50% retrace on-route to the $38-39 area (88.6% fib). This will most likely take the next 3 to 4 quarters to achieve, but it should be slow and steady progress.
A better operated company like AEM show what good management and agility can do. They are following the same basic pattern as PAAS, but shareholder appreciation of managements achievements is reflected accordingly.
PAAS management on the other hand, are like an old boys club. They think they operate at an optimal level by driving a ferrari, but they passed their prime some 20-30 years ago and are now being smoked by teslas.
PAAS stock price will be pulled up by the industry as a whole (and silver), but whereas other miners will clear new highs by hitting upwards of 38-62% higher above their all time highs, PAAS will struggle to cross the $40-45 level and get to their 38% above new highs.
These are all super longer term plays. Especially if you are willing to hold for multiple years.
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