Americas Gold and Silver (NYSEAMERICAN:USAS) Shares Gap Up - Still a Buy?

Key Points

• Americas Gold and Silver shares gapped up, opening at $1.10 after closing at $1.03, but last traded at $1.04 with strong trading volume of 638,347 shares.
• HC Wainwright raised its price target for the stock from $1.00 to $1.30, maintaining a "buy" rating.
• Institutional investors increased their holdings, with Goldman Sachs raising its stake by 29.6% during the first quarter.

Shares of Americas Gold and Silver Corporation (NYSEAMERICAN:USAS - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $1.03, but opened at $1.10. Americas Gold and Silver shares last traded at $1.04, with a volume of 638,347 shares traded.

Analysts Set New Price Targets

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

Americas Gold and Silver Price Performance

The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.37 and a current ratio of 1.14. The company has a market cap of $633.11 million, a PE ratio of -7.23 and a beta of 0.55. The company's 50 day moving average price is $0.92.

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 the business. Goldman Sachs Group Inc. grew its holdings in 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 period. Cetera Investment Advisers grew its holdings in Americas Gold and Silver by 4.8% in the fourth quarter. Cetera Investment Advisers now owns 428,844 shares of the company's stock valued at $167,000 after purchasing an additional 19,696 shares during the period. Jane Street Group LLC grew its holdings in Americas Gold and Silver by 38.9% in the first quarter. Jane Street Group LLC now owns 173,614 shares of the company's stock valued at $92,000 after purchasing an additional 48,616 shares during the period. Merk Investments LLC grew its holdings in Americas Gold and Silver by 1.9% in the fourth quarter. Merk Investments LLC now owns 2,751,028 shares of the company's stock valued at $1,050,000 after purchasing an additional 50,000 shares during the period. Finally, Baader Bank Aktiengesellschaft purchased a new stake in Americas Gold and Silver in the second quarter valued at approximately $46,000. 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.