Americas Gold and Silver (NYSEAMERICAN:USAS) Stock Price Down 8.3% - What's Next?

Key Points

• Americas Gold and Silver's stock price dropped by 8.3% to $0.88, with trading volume significantly above the average at 2,444,956 shares.
• HC Wainwright has maintained a "buy" rating on the stock while raising its price target to $1.30, indicating positive sentiment among analysts.
• Institutional investments in the company increased, notably with Goldman Sachs raising its stake by 29.6% in the first quarter, reflecting growing interest from hedge funds.

Shares of Americas Gold and Silver Corporation (NYSEAMERICAN:USAS - Get Free Report) were down 8.3% during mid-day trading on Tuesday . The stock traded as low as $0.88 and last traded at $0.88. Approximately 2,444,956 shares were traded during mid-day trading, an increase of 61% from the average daily volume of 1,518,013 shares. The stock had previously closed at $0.96.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a "buy" rating and set a $1.30 price target (up previously from $1.00) on shares of Americas Gold and Silver in a report on Thursday, July 10th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $1.30.

Americas Gold and Silver Stock Up 13.5%

The stock has a fifty day simple moving average of $0.93. The stock has a market capitalization of $686.99 million, a PE ratio of -7.85 and a beta of 0.55. 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

Several hedge funds have recently bought and sold shares of USAS. JPMorgan Chase & Co. purchased a new position in Americas Gold and Silver during the fourth quarter worth $94,000. Renaissance Technologies LLC increased its position in Americas Gold and Silver by 20.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,216,200 shares of the company's stock worth $457,000 after buying an additional 202,600 shares in the last quarter. NewGen Asset Management Ltd purchased a new position in Americas Gold and Silver during the fourth quarter worth $2,206,000. Merk Investments LLC increased its position in Americas Gold and Silver by 1.9% during the fourth quarter. Merk Investments LLC now owns 2,751,028 shares of the company's stock worth $1,050,000 after buying an additional 50,000 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Americas Gold and Silver by 273,321.1% during the fourth quarter. Bank of America Corp DE now owns 207,800 shares of the company's stock worth $78,000 after buying an additional 207,724 shares in the last quarter. Hedge funds and other institutional investors own 13.38% of the company's stock.

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.