Americas Gold and Silver (NYSEAMERICAN:USAS) Trading Down 5.3% - Here's Why

Key Points

• Americas Gold and Silver shares fell 5.3% to $2.76, with trading volume declining to 645,283 shares, a decrease from the average of 663,825 shares.
• HC Wainwright has upgraded the stock's price target to $3.25, maintaining a "buy" rating, while the average target price is also $3.25.
• Institutional investors have significantly increased their holdings, with Merk Investments LLC raising its stake by 2,486.3% to over 71 million shares.

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS - Get Free Report)'s stock price dropped 5.3% during trading on Tuesday . The stock traded as low as $2.79 and last traded at $2.76. Approximately 645,283 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 663,825 shares. The stock had previously closed at $2.91.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a "buy" rating and issued a $3.25 price target (up previously from $2.50) on shares of Americas Gold and Silver in a report on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $3.25.

Americas Gold and Silver Stock Performance

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 stock has a market cap of $770.06 million, a PE ratio of -8.80 and a beta of 0.63. The firm has a 50 day moving average of $2.51.

Institutional Trading of Americas Gold and Silver

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in shares of Americas Gold and Silver by 29.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 61,228 shares of the company's stock valued at $32,000 after acquiring an additional 14,000 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in Americas Gold and Silver during the second quarter worth $46,000. B. Riley Wealth Advisors Inc. acquired a new position in Americas Gold and Silver during the second quarter worth $46,000. NewEdge Advisors LLC acquired a new position in Americas Gold and Silver during the first quarter worth $59,000. Finally, XTX Topco Ltd raised 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 acquiring an additional 101,655 shares during the period. 13.38% of the stock is owned by hedge funds and other 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.