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

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS)’s share price 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 changing hands.

Analyst Upgrades and Downgrades

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

Americas Gold and Silver Stock Performance

The stock’s 50-day simple moving average is $7.63 and its 200-day simple moving average is $5.30. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -30.53 and a beta of 0.53. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.96.

Hedge Funds Weigh In On Americas Gold and Silver

Hedge funds have recently added to or reduced their stakes in the stock. NewGen Equity Long Short Fund bought a new stake in shares of Americas Gold and Silver during the 2nd quarter valued at $25,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Americas Gold and Silver in the second quarter worth $10,574,000. Montrusco Bolton Investments Inc. acquired a new position in Americas Gold and Silver in the third quarter valued at about $9,954,000. Polar Asset Management Partners Inc. bought a new stake in Americas Gold and Silver during the fourth quarter worth about $12,999,000. Finally, Alps Advisors Inc. grew its stake in Americas Gold and Silver by 62.9% during the fourth quarter. Alps Advisors Inc. now owns 5,872,547 shares of the company’s stock worth $30,009,000 after buying an additional 2,267,956 shares in the last quarter. Institutional investors own 13.38% of the company’s stock.

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.