Americas Gold and Silver (NYSEAMERICAN:USAS) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Americas Gold and Silver experienced a significant increase in trading volume, with approximately 901,732 shares traded on Wednesday, marking a 14% rise from the previous session.
• Research analysts have rated the stock with a consensus of "Buy", with HC Wainwright raising the target price from $1.30 to $3.40.
• Institutional investors have shown notable interest, with several hedge funds increasing their stakes significantly in the first quarter, including a 2,486.3% increase by Merk Investments LLC.

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 901,732 shares were traded during mid-day trading, an increase of 14% from the previous session's volume of 791,813 shares.The stock last traded at $3.89 and had previously closed at $3.72.

Wall Street Analyst Weigh In

Several research analysts recently commented on USAS shares. Desjardins assumed coverage on Americas Gold and Silver in a research note on Friday. They issued a "buy" rating for the company. HC Wainwright increased their target price on shares of Americas Gold and Silver from $1.30 to $3.40 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $3.40.

Americas Gold and Silver Stock Performance

The firm has a fifty day moving average price of $2.69 and a 200 day moving average price of $2.05. The company has a current ratio of 1.14, a quick ratio of 1.03 and a debt-to-equity ratio of 0.90. The firm has a market cap of $1.06 billion, a PE ratio of -11.92 and a beta of 0.63.

Institutional Trading of Americas Gold and Silver

Several hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Americas Gold and Silver by 51.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 648,500 shares of the company's stock valued at $347,000 after buying an additional 221,500 shares during the period. Merk Investments LLC raised its position in Americas Gold and Silver by 2,486.3% in the first quarter. Merk Investments LLC now owns 71,151,028 shares of the company's stock valued at $38,062,000 after purchasing an additional 68,400,000 shares during the period. XTX Topco Ltd lifted its stake in shares of Americas Gold and Silver by 494.6% in the 1st quarter. XTX Topco Ltd now owns 122,207 shares of the company's stock valued at $64,000 after purchasing an additional 101,655 shares during the last quarter. Alps Advisors Inc. lifted its stake in shares of Americas Gold and Silver by 1,587.0% in the 1st quarter. Alps Advisors Inc. now owns 1,609,368 shares of the company's stock valued at $848,000 after purchasing an additional 1,513,968 shares during the last quarter. Finally, NewGen Asset Management Ltd grew its holdings in shares of Americas Gold and Silver by 447.7% during the 1st quarter. NewGen Asset Management Ltd now owns 31,609,000 shares of the company's stock worth $16,664,000 after purchasing an additional 25,837,788 shares during the period. Hedge funds and other institutional investors own 13.38% of the company's stock.

About Americas Gold and Silver

Americas Gold and Silver Corporation engages in the acquisition, evaluation, exploration, development, and operation of mineral properties. The company explores for silver, lead, zinc and copper. It principally owns 100% interests in the Cosalá Operations consisting of 67 mining concessions that cover approximately 19,385 hectares located in the state of Sinaloa, Mexico; and Galena Complex situated near the town of Wallace in the state of Idaho, the United States.

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