Americas Gold and Silver (NYSEAMERICAN:USAS) Shares Gap Down – Here’s What Happened

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS) gapped down prior to trading on Wednesday . The stock had previously closed at $8.60, but opened at $8.25. Americas Gold and Silver shares last traded at $8.4250, with a volume of 825,280 shares traded.

Analysts Set New Price Targets

Several brokerages have commented on USAS. Canaccord Genuity Group began coverage on Americas Gold and Silver in a research report on Tuesday, February 24th. They issued a “buy” rating on the stock. TD Securities assumed coverage on shares of Americas Gold and Silver in a research note on Monday, February 9th. They set a “buy” rating for the company. Finally, HC Wainwright restated a “buy” rating and issued a $9.75 price target on shares of Americas Gold and Silver in a report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, Americas Gold and Silver currently has an average rating of “Buy” and a consensus target price of $9.75.

Americas Gold and Silver Stock Performance

The firm has a 50 day moving average of $7.50 and a 200-day moving average of $5.25. The company has a market cap of $2.64 billion, a P/E ratio of -31.83 and a beta of 0.53. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.96.

Institutional Trading of Americas Gold and Silver

A number of hedge funds have recently added to or reduced their stakes in USAS. Stone House Investment Management LLC increased its position in Americas Gold and Silver by 130.2% during the 4th quarter. Stone House Investment Management LLC now owns 9,256 shares of the company’s stock valued at $47,000 after purchasing an additional 5,236 shares during the period. Truist Financial Corp purchased a new position in Americas Gold and Silver during the fourth quarter valued at approximately $51,000. Wealthcare Capital Management LLC bought a new position in Americas Gold and Silver in the fourth quarter worth approximately $57,000. Hudson Bay Capital Management LP bought a new stake in Americas Gold and Silver during the 3rd quarter valued at $42,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Americas Gold and Silver in the 4th quarter valued at $67,000. 13.38% of the stock is owned by hedge funds and other institutional investors.

Americas Gold and Silver Company Profile

Americas Gold and Silver Corporation is a precious metals mining company focused on the exploration, development and production of silver and gold assets in North America. The company’s core operations center on the Cosalá district in Sinaloa, Mexico and the Relief Canyon mine in Nevada, where it pursues both open-pit and underground mining techniques. In addition to these producing mines, Americas Gold and Silver maintains an exploration portfolio designed to support future growth and reserve replacement.

The Cosalá operation comprises multiple silver-gold deposits accessed via ramp and portal infrastructure.