Why Pan American Silver Corp. (PAAS) Soared On Thursday

We recently published a list of 10 Stocks With Surprising Gains. In this article, we are going to take a look at where Pan American Silver Corp. (NYSE:PAAS) stands against other best-performing stocks on Thursday.

Pan American Silver rallied for a fifth consecutive day on Thursday, jumping 7.56 percent to close at $28.60 apiece, in line with silver prices hitting a new all-time high.

Silver futures rose to as high as $36.27 per troy ounce at intra-day trading on Thursday, its highest since 2012, before closing lower to $35.81 per troy ounce. Silver prices grew alongside gold, as investors’ funds flocked to safer assets anew to mitigate the risks from the ongoing trade tensions between the US and China.

Pan American Silver Corp. (NYSE:PAAS) is a Canada-based silver and gold miner with operations throughout the Americas.

In the first quarter of the year, Pan American Silver Corp. (NYSE:PAAS) swung to a net income of $169.3 million from a $30.8 million net loss in the same period last year.

Revenues increased by 28 percent to $773.2 million from $601.4 million year-on-year.

Overall, PAAS ranks 9th on our list of best-performing stocks on Thursday. While we acknowledge the potential of PAAS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.