Aya Gold & Silver (TSE:AYA) Stock Price Down 17% - Here's What Happened

Key Points

• Aya Gold & Silver's shares dropped by 17%, trading as low as C$11.95, following a decline from a previous close of C$15.30 with a significant increase in trading volume.
• Several analysts have updated their price targets on Aya Gold & Silver, with most maintaining a "Buy" consensus rating and a target price averaging C$20.43.
• The company's market cap is C$1.77 billion, with a notable debt-to-equity ratio of 34.69 and a high quick ratio of 3.28, indicating strong liquidity.

Shares of Aya Gold & Silver Inc. (TSE:AYA - Get Free Report) fell 17% during trading on Thursday . The stock traded as low as C$11.95 and last traded at C$12.70. 7,605,102 shares changed hands during trading, an increase of 629% from the average session volume of 1,042,744 shares. The stock had previously closed at C$15.30.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AYA. CIBC increased their price objective on shares of Aya Gold & Silver from C$22.00 to C$23.00 in a research report on Thursday. Cormark increased their price objective on shares of Aya Gold & Silver from C$12.50 to C$17.50 in a research report on Tuesday, September 16th. Desjardins set a C$20.00 target price on shares of Aya Gold & Silver and gave the company a "buy" rating in a research note on Thursday, June 19th. National Bankshares increased their price objective on shares of Aya Gold & Silver from C$18.75 to C$19.00 and gave the company an "outperform" rating in a research note on Tuesday, June 24th. Finally, Scotiabank reduced their price target on shares of Aya Gold & Silver from C$19.00 to C$18.50 and set an "outperform" rating on the stock in a research report on Monday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Aya Gold & Silver has a consensus rating of "Buy" and a consensus target price of C$20.43.

Aya Gold & Silver Price Performance

The company's 50 day moving average price is C$13.65 and its 200-day moving average price is C$12.33. The company has a market cap of C$1.77 billion, a price-to-earnings ratio of -103.75 and a beta of 0.93. The company has a debt-to-equity ratio of 34.69, a quick ratio of 3.28 and a current ratio of 2.06.

About Aya Gold & Silver

Aya Gold & Silver Inc is engaged in acquisition, exploration, evaluation, and development of mining properties. The company and its subsidiaries are at the development stage for its Zgounder project and exploration and evaluation stage for projects in Morocco. Its other project includes Boumadine; Amizmiz; Azegour and others.

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