Americas Gold and Silver (NYSEAMERICAN:USAS) Shares Gap Up - Here's Why

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.

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS - Get Free Report)'s stock price 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 trading hands.

Analysts Set New Price Targets

Separately, HC Wainwright restated a "buy" rating and issued a $1.30 price target (up 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 stock's fifty day moving average price is $0.92. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.03 and a current ratio of 1.14. The firm has a market capitalization of $646.58 million, a PE ratio of -7.38 and a beta of 0.55.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Merk Investments LLC raised its stake in 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 valued at $38,062,000 after acquiring an additional 68,400,000 shares in the last quarter. NewGen Equity Long Short Fund acquired a new position in shares of Americas Gold and Silver during the second quarter valued at $25,927,000. NewGen Asset Management Ltd raised its stake in shares of Americas Gold and Silver by 447.7% during the first quarter. NewGen Asset Management Ltd now owns 31,609,000 shares of the company's stock valued at $16,664,000 after purchasing an additional 25,837,788 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Americas Gold and Silver in the second quarter worth about $10,574,000. Finally, Intact Investment Management Inc. bought a new position in Americas Gold and Silver in the 1st quarter valued at about $2,819,000. 13.38% of the stock is currently owned by institutional investors.

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.