Vizsla Silver (NYSEAMERICAN:VZLA) Trading Down 3.6% – Here’s What Happened

Shares of Vizsla Silver Corp. (NYSEAMERICAN:VZLA) dropped 3.6% during trading on Wednesday . The company traded as low as $5.55 and last traded at $5.5650. Approximately 1,510,679 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 3,718,938 shares. The stock had previously closed at $5.77.

Wall Street Analysts Forecast Growth

VZLA has been the subject of a number of recent analyst reports. Roth Capital raised their price objective on Vizsla Silver from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Cantor Fitzgerald assumed coverage on shares of Vizsla Silver in a research report on Monday. They set a “buy” rating and a $7.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Vizsla Silver has an average rating of “Buy” and a consensus price target of $5.75.

Vizsla Silver Price Performance

The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -140.13 and a beta of 0.94. The business’s 50-day moving average price is $4.63 and its two-hundred day moving average price is $3.93.

Institutional Investors Weigh In On Vizsla Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC acquired a new stake in shares of Vizsla Silver in the 2nd quarter valued at $24,562,000. Bank of America Corp DE lifted its position in shares of Vizsla Silver by 274.5% during the 2nd quarter. Bank of America Corp DE now owns 8,022,629 shares of the company’s stock worth $23,587,000 after buying an additional 5,880,575 shares during the last quarter. Waratah Capital Advisors Ltd. acquired a new stake in Vizsla Silver in the second quarter valued at about $15,290,000. Fourth Sail Capital LP bought a new position in Vizsla Silver in the second quarter valued at about $12,736,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Vizsla Silver by 41.7% in the third quarter. Van ECK Associates Corp now owns 13,587,661 shares of the company’s stock worth $58,698,000 after acquiring an additional 4,001,170 shares during the last quarter. 22.46% of the stock is currently owned by institutional investors.

Vizsla Silver Company Profile

Vizsla Silver Corp. is a Canada-based mineral exploration and development company focused on high-grade silver projects in Mexico. The company holds a portfolio of properties in the Panuco District of Sinaloa, where it is advancing its flagship Panuco Project, among several other exploration targets. These assets cover prolific epithermal vein systems that have historically produced significant silver and base metals.

The Panuco Project encompasses multiple mineralized zones over a 17,000-hectare land package, where ongoing drilling campaigns have reported consistent high-grade silver intercepts.