Americas Gold and Silver (NYSEAMERICAN:USAS) Trading 7.2% Higher - Here's What Happened

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS - Get Free Report) shot up 7.2% during trading on Thursday . The company traded as high as $0.82 and last traded at $0.83. 803,056 shares were traded during mid-day trading, a decline of 32% from the average session volume of 1,173,714 shares. The stock had previously closed at $0.77.

Analyst Upgrades and Downgrades

Separately, HC Wainwright upped their price objective on Americas Gold and Silver from $0.90 to $1.00 and gave the company a "buy" rating in a report on Friday, March 28th.

Americas Gold and Silver Trading Down 6.8%

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.52 and a quick ratio of 0.37. The firm has a 50-day simple moving average of $0.68.

Hedge Funds Weigh In On Americas Gold and Silver

Several large investors have recently bought and sold shares of the company. 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 last quarter. 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 last quarter. Sprott Inc. increased its stake in shares of Americas Gold and Silver by 5.2% in the first quarter. Sprott Inc. now owns 5,757,602 shares of the company's stock valued at $3,081,000 after buying an additional 285,500 shares during the period. Intact Investment Management Inc. acquired a new stake in shares of Americas Gold and Silver in the first quarter valued at about $2,819,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Americas Gold and Silver in the first quarter valued at about $1,677,000. 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.