HC Wainwright Reaffirms “Buy” Rating for Vista Gold (NYSEAMERICAN:VGZ)

Vista Gold (NYSEAMERICAN:VGZ)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They presently have a $4.50 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 64.23% from the stock’s current price.

Vista Gold Trading Up 21.2%

Shares of NYSEAMERICAN VGZ opened at $2.74 on Tuesday. The company has a market cap of $399.96 million, a price-to-earnings ratio of -45.67 and a beta of 1.35. Vista Gold has a 12 month low of $1.43 and a 12 month high of $3.13. The stock has a 50-day moving average price of $2.08 and a two-hundred day moving average price of $2.11.

Vista Gold (NYSEAMERICAN:VGZ) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.02) earnings per share for the quarter. On average, sell-side analysts predict that Vista Gold will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VGZ. Sequoia Financial Advisors LLC acquired a new stake in shares of Vista Gold during the 2nd quarter valued at $47,000. Squarepoint Ops LLC bought a new position in Vista Gold in the second quarter valued at about $387,000. Bank of New York Mellon Corp bought a new position in Vista Gold in the second quarter valued at about $556,000. Bank of America Corp DE grew its holdings in shares of Vista Gold by 5.0% during the first quarter. Bank of America Corp DE now owns 238,168 shares of the company’s stock worth $467,000 after purchasing an additional 11,249 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Vista Gold in the first quarter valued at approximately $67,000. 27.29% of the stock is currently owned by institutional investors.

Vista Gold News Roundup

Here are the key news stories impacting Vista Gold this week:

• Positive Sentiment: Artemis Gold will acquire all outstanding Vista Gold shares through a court-approved plan of arrangement, providing investors with a defined takeout opportunity and driving the stock’s sharp advance. The transaction adds Vista’s advanced-stage Mt Todd gold project in Australia to Artemis’ portfolio. Artemis Gold Agrees to Acquire Vista Gold
• Positive Sentiment: The deal gives Vista shareholders exposure to Artemis Gold shares rather than a cash payment, while combining Vista’s Mt Todd development asset with Artemis’ operating and development platform. Artemis said its Blackwater Phase 1A and EP2 expansion projects remain on track and are still priorities. Artemis to buy Vista for $427M in Australia push
• Neutral Sentiment: The acquisition remains subject to customary conditions, including shareholder and court approvals. Because the consideration is entirely in Artemis shares, Vista’s eventual value will depend partly on Artemis Gold’s share price and the successful completion of the transaction. Artemis Gold Agrees to Buy Vista Gold In $427 Million Deal

Vista Gold Company Profile

Vista Gold Corp. is a development-stage gold company focused on the evaluation and advancement of gold projects. The company’s principal asset is the Mt Todd Gold Project in the Northern Territory of Australia, which it is working to develop through technical studies, engineering, permitting, exploration, and related project activities.

Mt Todd is located approximately 55 kilometers south of Katherine and is considered one of Australia’s largest undeveloped gold projects. Vista Gold has conducted exploration, feasibility work, and optimization studies at the property to assess potential mining and processing plans.