Vizsla Silver (NYSEAMERICAN:VZLA) Stock Price Down 3.6% – Here’s Why

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 changed hands during trading, a decline of 59% from the average daily volume of 3,718,938 shares. The stock had previously closed at $5.77.

Analyst Ratings Changes

Several brokerages recently weighed in on VZLA. Cantor Fitzgerald started coverage on shares of Vizsla Silver in a research report on Monday. They issued a “buy” rating and a $7.00 price target on the stock. Roth Capital raised their target price on Vizsla Silver from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $5.75.

Vizsla Silver Trading Down 1.7%

The company has a market capitalization of $1.95 billion, a PE ratio of -141.75 and a beta of 0.94. The stock’s fifty day moving average is $4.66 and its two-hundred day moving average is $3.95.

Institutional Investors Weigh In On Vizsla Silver

A number of hedge funds have recently modified their holdings of the stock. Sprott Inc. lifted its stake in Vizsla Silver by 1.4% in the third quarter. Sprott Inc. now owns 22,851,053 shares of the company’s stock valued at $98,691,000 after purchasing an additional 306,900 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Vizsla Silver by 9.3% in the second quarter. Franklin Resources Inc. now owns 15,291,000 shares of the company’s stock valued at $45,146,000 after buying an additional 1,306,000 shares during the period. Tidal Investments LLC lifted its position in shares of Vizsla Silver by 72.8% during the 3rd quarter. Tidal Investments LLC now owns 14,435,320 shares of the company’s stock valued at $62,361,000 after buying an additional 6,080,923 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Vizsla Silver by 41.7% during the 3rd quarter. Van ECK Associates Corp now owns 13,587,661 shares of the company’s stock valued at $58,698,000 after buying an additional 4,001,170 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Vizsla Silver by 38.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,395,079 shares of the company’s stock worth $49,220,000 after acquiring an additional 3,139,086 shares during the period. Institutional investors own 22.46% of the company’s stock.

About Vizsla Silver

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.