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

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS)’s share price gapped down before the market opened 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

A number of brokerages recently weighed in on USAS. TD Securities assumed coverage on shares of Americas Gold and Silver in a research report on Monday, February 9th. They set a “buy” rating for the company. Canaccord Genuity Group initiated coverage on shares of Americas Gold and Silver in a research note on Tuesday, February 24th. They issued a “buy” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $9.75 price objective on shares of Americas Gold and Silver in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $9.75.

Americas Gold and Silver Stock Down 4.4%

The firm has a market cap of $2.64 billion, a P/E ratio of -31.83 and a beta of 0.53. The company’s 50-day simple moving average is $7.50 and its 200 day simple moving average is $5.25. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.91 and a quick ratio of 0.77.

Institutional Investors Weigh In On Americas Gold and Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewGen Equity Long Short Fund bought a new position in shares of Americas Gold and Silver during the 2nd quarter valued at approximately $25,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Americas Gold and Silver during the second quarter worth $10,574,000. Alps Advisors Inc. increased its position 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 valued at $30,009,000 after acquiring an additional 2,267,956 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Americas Gold and Silver by 56.0% in the second quarter. Tidal Investments LLC now owns 5,570,774 shares of the company’s stock valued at $4,500,000 after acquiring an additional 2,000,563 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Americas Gold and Silver by 38.6% in the 2nd quarter. Bank of America Corp DE now owns 3,123,373 shares of the company’s stock worth $2,521,000 after acquiring an additional 869,500 shares during the last quarter. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

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.