Blackrock Silver (CVE:BRC) Trading Up 11.8% – Time to Buy?

Blackrock Silver Corp. (CVE:BRC)’s share price was up 11.8% on Wednesday . The company traded as high as C$1.24 and last traded at C$1.23. Approximately 647,260 shares traded hands during trading, a decline of 38% from the average daily volume of 1,036,502 shares. The stock had previously closed at C$1.10.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Freedom Capital upgraded shares of Blackrock Silver from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Canaccord Genuity Group set a C$2.10 price objective on Blackrock Silver and gave the company a “speculative buy” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Strong Buy” and a consensus target price of C$2.10.

Blackrock Silver Stock Up 0.8%

The stock has a 50 day moving average of C$1.00 and a 200-day moving average of C$1.26. The firm has a market capitalization of C$465.35 million, a P/E ratio of -20.67 and a beta of 3.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.14 and a current ratio of 13.70.

About Blackrock Silver

Blackrock Silver Corp. engages in the acquisition, exploration, and development of mineral properties in Canada and the United States. It primarily explores for gold and silver deposits. The company's flagship property is the Tonopah West silver-gold project comprising 100 patented and 83 unpatented lode mining claims covering an area of 10.3 square kilometers located in the Walker Lane trend of western Nevada. It also holds 100% interest in the Silver Cloud project comprising 572 unpatented lode mining claims covering an area of 46.9 square kilometers located in Northern Nevada Rift, Nevada.