Americas Gold and Silver (NYSEAMERICAN:USAS) Shares Gap Up – Still a Buy?

Shares of Americas Gold and Silver Corporation (NYSEAMERICAN:USAS) gapped up before the market opened on Friday . The stock had previously closed at $8.48, but opened at $8.83. Americas Gold and Silver shares last traded at $8.8210, with a volume of 3,009,140 shares.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $9.75 target price on shares of Americas Gold and Silver in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $9.75.

Americas Gold and Silver Stock Performance

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 has a fifty day moving average price of $5.36 and a 200-day moving average price of $3.94. The stock has a market capitalization of $2.96 billion, a P/E ratio of -35.73 and a beta of 0.60.

Hedge Funds Weigh In On Americas Gold and Silver

Several institutional investors have recently made changes to their positions in USAS. NewGen Equity Long Short Fund purchased a new stake in Americas Gold and Silver in the second quarter worth about $25,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Americas Gold and Silver in the 2nd quarter worth approximately $10,574,000. Tidal Investments LLC grew its stake in shares of Americas Gold and Silver by 56.0% in the 2nd quarter. Tidal Investments LLC now owns 5,570,774 shares of the company’s stock worth $4,500,000 after buying an additional 2,000,563 shares in the last quarter. Bank of America Corp DE lifted its stake 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 valued at $2,521,000 after purchasing an additional 869,500 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. bought a new position in Americas Gold and Silver during the third quarter valued at $9,954,000. 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.