Americas Gold and Silver (NYSEAMERICAN:USAS) Reaches New 52-Week Low After Earnings Miss

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS)’s stock price hit a new 52-week low during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $2.61 and last traded at $2.6860, with a volume of 704,118 shares changing hands. The stock had previously closed at $2.79.

The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). Americas Gold and Silver had a positive return on equity of 3.59% and a negative net margin of 26.67%. The company had revenue of $59.00 million for the quarter, compared to analysts’ expectations of $63.45 million.

Wall Street Analyst Weigh In

Several brokerages recently commented on USAS. HC Wainwright reaffirmed a “buy” rating and set a $9.25 price target on shares of Americas Gold and Silver in a research report on Tuesday, October 20th. Stifel Nicolaus initiated coverage on shares of Americas Gold and Silver in a report on Wednesday, October 14th. They issued a “buy” rating on the stock. Zacks Research cut shares of Americas Gold and Silver from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Finally, National Bank Financial assumed coverage on Americas Gold and Silver in a report on Thursday, October 8th. They set an “outperform” rating for the company. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.25.

Hedge Funds Weigh In On Americas Gold and Silver

Several hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in Americas Gold and Silver during the 1st quarter worth approximately $5,468,000. Montrusco Bolton Investments Inc. purchased a new position in Americas Gold and Silver in the third quarter valued at approximately $2,914,000. Alps Advisors Inc. acquired a new position in Americas Gold and Silver during the third quarter valued at approximately $27,261,000. Walleye Capital LLC lifted its position in Americas Gold and Silver by 110.3% during the first quarter. Walleye Capital LLC now owns 706,630 shares of the company’s stock valued at $3,689,000 after buying an additional 370,683 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in Americas Gold and Silver by 14,000.0% during the first quarter. Gabelli Funds LLC now owns 2,115,000 shares of the company’s stock valued at $11,040,000 after buying an additional 2,100,000 shares in the last quarter. 13.38% of the stock is owned by institutional investors and hedge funds.

Americas Gold and Silver Trading Down 6.6%

The company has a quick ratio of 1.41, a current ratio of 1.62 and a debt-to-equity ratio of 0.15. The firm’s 50 day simple moving average is $4.07 and its 200-day simple moving average is $5.50. The company has a market capitalization of $883.20 million, a PE ratio of -13.77 and a beta of 0.98.

Americas Gold and Silver Company Profile

Americas Gold and Silver Corporation is a mining company focused on the exploration, development and production of precious and base metals. Its products include silver, lead, zinc, copper and gold. The company operates the Galena Complex in Idaho, where its mines produce silver and associated metals, and the Cosalá Operations in Sinaloa, Mexico, which include the San Rafael mine. Its activities span both the United States and Mexico. Americas Gold and Silver was formed in 2019 through the combination of Americas Silver Corporation and Pershing Gold Corporation.