Americas Gold and Silver (NYSEAMERICAN:USAS) Stock Price Up 5.9% - Should You Buy?

Key Points

• Americas Gold and Silver's shares experienced a significant increase of 5.9%, rising to $2.95 during trading on Friday.
• HC Wainwright raised their target price for the company from $1.30 to $3.40, maintaining a "buy" rating on the stock.
• Institutional investors increased their stakes in Americas Gold and Silver, with notable purchases including B. Riley Wealth Advisors and Tidal Investments, reflecting strong interest and confidence in the company.

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS - Get Free Report) shares shot up 5.9% on Friday . The stock traded as high as $2.96 and last traded at $2.95. 778,318 shares traded hands during trading, an increase of 10% from the average session volume of 707,104 shares. The stock had previously closed at $2.78.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright increased their target price on shares of Americas Gold and Silver from $1.30 to $3.40 and gave the stock a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $3.40.

Americas Gold and Silver Stock Up 7.9%

The firm has a 50-day simple moving average of $2.56 and a 200 day simple moving average of $1.96. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.14 and a quick ratio of 1.03. The company has a market capitalization of $807.75 million, a PE ratio of -9.23 and a beta of 0.63.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. 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. NewGen Equity Long Short Fund purchased a new position in Americas Gold and Silver in the second quarter valued at about $25,927,000. NewGen Asset Management Ltd raised its position in Americas Gold and Silver by 447.7% in 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Americas Gold and Silver during the second quarter worth about $10,574,000. Finally, Sprott Inc. increased its position in shares of Americas Gold and Silver by 5.2% during the first quarter. Sprott Inc. now owns 5,757,602 shares of the company's stock worth $3,081,000 after acquiring an additional 285,500 shares during the last quarter. 13.38% of the stock is owned by hedge funds and other institutional investors.

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.