Aya Gold & Silver (TSE:AYA) Trading Down 14.8% - Here's What Happened

Key Points

• Aya Gold & Silver Inc.'s stock price fell by 14.8%, trading as low as C$12.55, with a significant trading volume increase of 275% from its average.
• Various brokerages have adjusted their price targets, with Desjardins setting a target of C$20.00, while Scotiabank reduced theirs to C$18.50; overall, the consensus rating for the stock remains a "Buy".
• The company is in the development stage for its Zgounder project and evaluating other projects in Morocco, with a market capitalization of C$1.77 billion.

Aya Gold & Silver Inc. (TSE:AYA - Get Free Report)'s stock price dropped 14.8% during mid-day trading on Thursday . The company traded as low as C$12.55 and last traded at C$13.03. Approximately 3,835,361 shares were traded during trading, an increase of 275% from the average daily volume of 1,022,410 shares. The stock had previously closed at C$15.30.

Analysts Set New Price Targets

A number of brokerages have recently commented on AYA. Desjardins set a C$20.00 price objective on Aya Gold & Silver and gave the stock a "buy" rating in a research report on Thursday, June 19th. CIBC boosted their price objective on Aya Gold & Silver from C$22.00 to C$23.00 in a research note on Thursday. Scotiabank cut their price target on Aya Gold & Silver from C$19.00 to C$18.50 and set an "outperform" rating for the company in a research note on Monday, June 23rd. National Bankshares upped their price target on Aya Gold & Silver from C$18.75 to C$19.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Finally, Citigroup cut their price objective on Aya Gold & Silver from C$23.00 to C$22.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of C$20.43.

Aya Gold & Silver Stock Down 18.4%

The company has a debt-to-equity ratio of 34.69, a quick ratio of 3.28 and a current ratio of 2.06. The firm has a fifty day simple moving average of C$13.65 and a 200-day simple moving average of C$12.33. The company has a market capitalization of C$1.77 billion, a PE ratio of -104.08 and a beta of 0.93.

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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