Vista Gold Corp. $VGZ Position Cut by Redmond Asset Management LLC

Key Points

• Redmond Asset Management cut its Vista Gold position by 66.5% in the third quarter, selling 605,127 shares and retaining 304,911 shares valued at approximately $826,000.
• Institutional investors and hedge funds own 27.29% of Vista Gold, with several firms establishing new positions and Bank of America increasing its stake by 5%.
• Vista Gold shares opened at $2.70, while HC Wainwright maintained a “Buy” rating and a $4.50 price target, implying substantial upside from current levels.

Redmond Asset Management LLC decreased its holdings in Vista Gold Corp. (NYSEAMERICAN:VGZ - Free Report) by 66.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 304,911 shares of the company's stock after selling 605,127 shares during the quarter. Redmond Asset Management LLC's holdings in Vista Gold were worth $826,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new position in shares of Vista Gold during the 2nd quarter worth $47,000. Squarepoint Ops LLC acquired a new stake in shares of Vista Gold in the second quarter valued at about $387,000. Bank of New York Mellon Corp acquired a new stake in shares of Vista Gold in the second quarter valued at about $556,000. Bank of America Corp DE lifted its stake in shares of Vista Gold by 5.0% in the first quarter. Bank of America Corp DE now owns 238,168 shares of the company's stock valued at $467,000 after purchasing an additional 11,249 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Vista Gold during the first quarter worth about $67,000. Institutional investors and hedge funds own 27.29% of the company's stock.

Vista Gold Price Performance

NYSEAMERICAN:VGZ opened at $2.70 on Thursday. The firm has a market cap of $394.12 million, a PE ratio of -45.00 and a beta of 1.29. The firm has a 50 day simple moving average of $2.50 and a 200-day simple moving average of $2.27. Vista Gold Corp. has a 1-year low of $1.43 and a 1-year high of $3.13.

Vista Gold (NYSEAMERICAN:VGZ - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter. As a group, sell-side analysts expect that Vista Gold Corp. will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright restated a "buy" rating and set a $4.50 target price on shares of Vista Gold in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $4.50.

About Vista Gold

Vista Gold Corp. is a mineral exploration and development company focused on advancing gold projects. The company's principal asset is the Mt Todd Gold Project in the Northern Territory of Australia, which it holds through its Australian subsidiary. Vista Gold's activities include project evaluation, exploration, engineering and permitting, with the goal of developing Mt Todd into a producing gold mine.

Mt Todd is located near Katherine in the Northern Territory and is regarded by the company as one of Australia's larger undeveloped gold projects.

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