Americas Gold and Silver (NYSEAMERICAN:USAS) Shares Down 10.6% – Here’s What Happened

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS)’s share price fell 10.6% on Friday . The stock traded as low as $5.26 and last traded at $5.2050. 1,727,898 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 6,511,556 shares. The stock had previously closed at $5.82.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on USAS. BMO Capital Markets restated an “outperform” rating on shares of Americas Gold and Silver in a research note on Tuesday, May 19th. TD Securities began coverage on Americas Gold and Silver in a research note on Monday, February 9th. They issued a “buy” rating on the stock. HC Wainwright restated a “buy” rating and issued a $9.75 price target on shares of Americas Gold and Silver in a research note on Friday, April 17th. Finally, Canaccord Genuity Group began coverage on Americas Gold and Silver in a research note on Tuesday, February 24th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $9.75.

Americas Gold and Silver Trading Down 15.5%

The firm has a 50 day simple moving average of $5.94 and a 200 day simple moving average of $6.31. The company has a current ratio of 1.68, a quick ratio of 1.54 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.61 billion, a PE ratio of -22.36 and a beta of 0.86.

Institutional Trading of Americas Gold and Silver

Several institutional investors have recently added to or reduced their stakes in USAS. NewGen Equity Long Short Fund purchased a new position in shares of Americas Gold and Silver in the 2nd quarter worth $25,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Americas Gold and Silver in the 2nd quarter worth $10,574,000. Alps Advisors Inc. boosted its stake in shares of Americas Gold and Silver by 62.9% in the 4th quarter. Alps Advisors Inc. now owns 5,872,547 shares of the company’s stock worth $30,009,000 after buying an additional 2,267,956 shares during the last quarter. Tidal Investments LLC boosted 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Americas Gold and Silver by 554.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,501,488 shares of the company’s stock worth $23,498,000 after buying an additional 3,813,582 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.