Aya Gold & Silver (NASDAQ:AYA) Stock Price Up 8% – Here’s Why

Aya Gold & Silver Inc. (NASDAQ:AYA) shares were up 8% during mid-day trading on Thursday . The company traded as high as $30.24 and last traded at $29.9910. Approximately 478,162 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 616,858 shares. The stock had previously closed at $27.77.

Analysts Set New Price Targets

A number of brokerages have recently commented on AYA. Weiss Ratings cut shares of Aya Gold & Silver from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 3rd. Scotiabank upgraded shares of Aya Gold & Silver to a “strong-buy” rating in a research note on Wednesday, May 20th. Desjardins raised shares of Aya Gold & Silver to a “moderate buy” rating in a research report on Friday, May 15th. Finally, Zacks Research raised shares of Aya Gold & Silver from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy”.

Aya Gold & Silver Stock Performance

The business’s 50-day moving average is $22.21. The company has a market capitalization of $4.03 billion and a P/E ratio of 49.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.70 and a current ratio of 2.02.

Aya Gold & Silver (NASDAQ:AYA) last released its earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.13). Aya Gold & Silver had a return on equity of 25.49% and a net margin of 32.92%. Research analysts predict that Aya Gold & Silver Inc. will post 1.11 EPS for the current year.

Hedge Funds Weigh In On Aya Gold & Silver

A number of hedge funds have recently bought and sold shares of the company. Amundi purchased a new stake in Aya Gold & Silver during the 2nd quarter valued at about $29,474,000. Groupe la Francaise bought a new stake in Aya Gold & Silver during the 2nd quarter valued at about $16,294,000. TD Waterhouse Canada Inc. purchased a new position in Aya Gold & Silver in the second quarter worth about $39,000. Addenda Capital Inc. purchased a new position in Aya Gold & Silver in the second quarter worth about $1,097,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Aya Gold & Silver in the second quarter worth about $729,000.

Aya Gold & Silver Company Profile

Aya Gold & Silver is a precious metals company focused on the exploration, development, and production of silver and gold. The company is best known for its operations in Morocco, where it is advancing and operating assets within the country’s mining sector.

The company’s business activities center on identifying, developing, and optimizing mineral resources, with an emphasis on silver production and related byproducts. Aya Gold & Silver is involved in the full mining lifecycle, from exploration and resource definition through to mine development and operations.

Founded as a Canadian mining company, Aya Gold & Silver has built its portfolio around North African mineral assets and continues to concentrate on expanding its presence in Morocco.