Americas Gold and Silver (NYSEAMERICAN:USAS) Shares Gap Down - What's Next?

Key Points

• Americas Gold and Silver (NYSEAMERICAN:USAS) shares gapped down to $1.03 from a previous close of $1.09 due to market movements.
• The firm received a "buy" rating from HC Wainwright, along with a revised price target of $1.30, reflecting positive sentiment despite recent share price movement.
• Institutional investors hold 13.38% of the company's stock, with notable stakes increasing from firms such as Goldman Sachs and XTX Topco Ltd.

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $1.09, but opened at $1.03. Americas Gold and Silver shares last traded at $1.08, with a volume of 477,804 shares.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and issued a $1.30 target price (up from $1.00) on shares of Americas Gold and Silver in a report on Thursday, July 10th.

Americas Gold and Silver Price Performance

The company has a market capitalization of $649.27 million, a P/E ratio of -7.42 and a beta of 0.55. The company has a 50-day simple moving average of $0.91. The company has a current ratio of 1.14, a quick ratio of 0.37 and a debt-to-equity ratio of 0.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Merk Investments LLC lifted its stake in shares of Americas Gold and Silver by 2,486.3% during the 1st quarter. Merk Investments LLC now owns 71,151,028 shares of the company's stock worth $38,062,000 after buying an additional 68,400,000 shares during the last quarter. NewGen Equity Long Short Fund bought a new stake in shares of Americas Gold and Silver during the 2nd quarter worth about $25,927,000. NewGen Asset Management Ltd boosted 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 buying an additional 25,837,788 shares during the period. Sprott Inc. boosted its holdings in shares of Americas Gold and Silver by 5.2% during the 1st quarter. Sprott Inc. now owns 5,757,602 shares of the company's stock worth $3,081,000 after buying an additional 285,500 shares during the period. Finally, Intact Investment Management Inc. bought a new stake in shares of Americas Gold and Silver during the 1st quarter worth about $2,819,000. 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.