Americas Gold and Silver (NYSEAMERICAN:USAS) Trading 8.9% Higher – Here’s What Happened

Shares of Americas Gold and Silver Corporation (NYSEAMERICAN:USAS) were up 8.9% on Monday . The company traded as high as $7.81 and last traded at $7.7650. Approximately 1,117,637 shares were traded during trading, a decline of 86% from the average daily volume of 7,889,268 shares. The stock had previously closed at $7.13.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. TD Securities initiated coverage on shares of Americas Gold and Silver in a report on Monday. They issued a “buy” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $9.75 price objective on shares of Americas Gold and Silver in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Americas Gold and Silver presently has an average rating of “Buy” and an average price target of $9.75.

Americas Gold and Silver Stock Performance

The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -30.77 and a beta of 0.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.91 and a quick ratio of 0.77. The firm has a fifty day simple moving average of $6.16 and a two-hundred day simple moving average of $4.34.

Hedge Funds Weigh In On Americas Gold and Silver

Several hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in Americas Gold and Silver by 75.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,135,900 shares of the company’s stock valued at $918,000 after purchasing an additional 487,400 shares during the last quarter. Fiducient Advisors LLC acquired a new stake in Americas Gold and Silver during the 2nd quarter valued at approximately $81,000. Quadrature Capital Ltd acquired a new stake in Americas Gold and Silver during the 2nd quarter valued at approximately $603,000. Lido Advisors LLC purchased a new stake in shares of Americas Gold and Silver in the 2nd quarter valued at $85,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Americas Gold and Silver in the first quarter worth $59,000. 13.38% of the stock is owned by institutional investors and hedge funds.

About Americas Gold and Silver

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.