Americas Gold and Silver (NYSEAMERICAN:USAS) Trading Up 5% - Still a Buy?

Key Points

• Americas Gold and Silver's stock increased by 5%, trading at $3.44 with an increase in volume from the average.
• HC Wainwright has raised its price target for the stock to $3.40 and assigned a "buy" rating, contributing to a consensus rating of "buy" amongst analysts.
• Significant institutional investments were noted, with Merk Investments increasing its stake by 2,486.3%, highlighting growing confidence in the stock.

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS - Get Free Report) was up 5% during mid-day trading on Friday . The stock traded as high as $3.48 and last traded at $3.44. Approximately 823,801 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 751,408 shares. The stock had previously closed at $3.27.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. HC Wainwright upped their price objective on shares of Americas Gold and Silver from $1.30 to $3.40 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Desjardins began coverage on shares of Americas Gold and Silver in a research note on Friday. They set a "buy" rating on the stock. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Americas Gold and Silver presently has an average rating of "Buy" and a consensus target price of $3.40.

Americas Gold and Silver Stock Up 8.4%

The company has a quick ratio of 1.03, a current ratio of 1.14 and a debt-to-equity ratio of 0.90. The firm has a market cap of $975.44 million, a price-to-earnings ratio of -10.91 and a beta of 0.63. The stock's 50 day moving average is $2.62 and its 200 day moving average is $1.99.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Merk Investments LLC grew 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 worth $38,062,000 after buying an additional 68,400,000 shares during the last quarter. NewGen Equity Long Short Fund acquired a new position in Americas Gold and Silver in the second quarter worth approximately $25,927,000. NewGen Asset Management Ltd grew 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 worth $16,664,000 after buying an additional 25,837,788 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Americas Gold and Silver in the second quarter worth approximately $10,574,000. Finally, Sprott Inc. grew its position in Americas Gold and Silver by 5.2% in the first quarter. Sprott Inc. now owns 5,757,602 shares of the company's stock worth $3,081,000 after buying an additional 285,500 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.