Americas Gold and Silver (NYSEAMERICAN:USAS) Shares Gap Down - Time to Sell?

Key Points

• Shares of Americas Gold and Silver gapped down significantly, starting at $4.16 after closing at $4.63, with recent trading prices at $3.93.
• Analysts have set a consensus target price of $3.40 for the stock, with multiple brokerages issuing a Buy rating.
• Institutional investors hold 13.38% of Americas Gold and Silver's stock, with significant increases in holdings from firms like Goldman Sachs and XTX Topco Ltd.

Shares of Americas Gold and Silver Corporation (NYSEAMERICAN:USAS - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $4.63, but opened at $4.16. Americas Gold and Silver shares last traded at $3.93, with a volume of 1,642,064 shares.

Analysts Set New Price Targets

Several brokerages have commented on USAS. Desjardins began coverage on shares of Americas Gold and Silver in a research report on Friday, September 26th. They set a "buy" rating on the stock. HC Wainwright raised their price objective on shares of Americas Gold and Silver from $1.30 to $3.40 and gave the company a "buy" rating in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $3.40.

Americas Gold and Silver Price Performance

The company has a market cap of $1.11 billion, a price-to-earnings ratio of -12.51 and a beta of 0.66. The company has a fifty day simple moving average of $3.20 and a two-hundred day simple moving average of $2.34. The company has a quick ratio of 1.03, a current ratio of 1.14 and a debt-to-equity ratio of 0.90.

Hedge Funds Weigh In On Americas Gold and Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in USAS. Goldman Sachs Group Inc. grew its position in shares of Americas Gold and Silver by 29.6% in the first quarter. Goldman Sachs Group Inc. now owns 61,228 shares of the company's stock valued at $32,000 after purchasing an additional 14,000 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in Americas Gold and Silver in the 2nd quarter valued at approximately $46,000. B. Riley Wealth Advisors Inc. acquired a new stake in Americas Gold and Silver during the 2nd quarter valued at $46,000. NewEdge Advisors LLC acquired a new stake in Americas Gold and Silver during the 1st quarter valued at $59,000. Finally, XTX Topco Ltd increased its position in Americas Gold and Silver by 494.6% during the first quarter. XTX Topco Ltd now owns 122,207 shares of the company's stock worth $64,000 after buying an additional 101,655 shares in the last quarter. Institutional investors and hedge funds own 13.38% of the company's stock.

Americas Gold and Silver Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.