Americas Gold and Silver (NYSEAMERICAN:USAS) Stock Price Down 7.5% – Here’s Why

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS)’s share price fell 7.5% on Wednesday . The company traded as low as $6.78 and last traded at $6.82. 1,110,392 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 7,266,333 shares. The stock had previously closed at $7.37.

Wall Street Analyst Weigh In

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

Americas Gold and Silver Stock Down 9.0%

The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -25.87 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. The business’s 50-day moving average is $7.76 and its two-hundred day moving average is $5.44.

Institutional Investors Weigh In On Americas Gold and Silver

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its position in Americas Gold and Silver by 273,321.1% in the fourth quarter. Bank of America Corp DE now owns 207,800 shares of the company’s stock worth $78,000 after acquiring an additional 207,724 shares during the period. NewEdge Advisors LLC acquired a new stake in Americas Gold and Silver in the 1st quarter valued at approximately $59,000. Jane Street Group LLC increased its holdings in Americas Gold and Silver by 38.9% in the 1st quarter. Jane Street Group LLC now owns 173,614 shares of the company’s stock valued at $92,000 after purchasing an additional 48,616 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Americas Gold and Silver by 75.2% in the second 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 period. Finally, NewGen Equity Long Short Fund acquired a new position in Americas Gold and Silver during the second quarter worth $25,927,000. Hedge funds and other institutional investors own 13.38% of the company’s stock.

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.