Americas Gold and Silver (NYSEAMERICAN:USAS) Shares Gap Up - Here's Why

Key Points

• Americas Gold and Silver shares jumped: The stock opened at $2.97, up from its prior close of $2.71, and was last trading at $2.895 on volume of about 1.29 million shares.
• Analyst sentiment is mostly positive: Six analysts rate the stock Buy and one rates it Sell, giving it a Moderate Buy consensus and a $9.25 average price target.
• Institutional investors reported new positions in the third quarter, including Alps Advisors’ stake valued at about $27.3 million; institutions and hedge funds own 13.38% of the shares.

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS - Get Free Report) shares gapped up prior to trading on Wednesday. The stock had previously closed at $2.71, but opened at $2.97. Americas Gold and Silver shares last traded at $2.8950, with a volume of 1,287,051 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Stifel Nicolaus started coverage on Americas Gold and Silver in a report on Wednesday, October 14th. They issued a "buy" rating on the stock. HC Wainwright reiterated a "buy" rating and set a $9.25 price objective on shares of Americas Gold and Silver in a report on Tuesday, October 20th. National Bank Financial started coverage on Americas Gold and Silver in a research report on Thursday, October 8th. They issued an "outperform" rating on the stock. Finally, Zacks Research downgraded Americas Gold and Silver from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 20th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Americas Gold and Silver presently has an average rating of "Moderate Buy" and a consensus price target of $9.25.

Americas Gold and Silver Stock Up 11.6%

The firm has a fifty day moving average of $4.41 and a 200-day moving average of $5.66. The company has a quick ratio of 1.41, a current ratio of 1.62 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.02 billion, a P/E ratio of -15.88 and a beta of 0.98.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of USAS. Abbington Investment Group bought a new stake in shares of Americas Gold and Silver during the 3rd quarter worth about $128,000. J. Derek Lewis & Associates Inc. acquired a new position in Americas Gold and Silver in the 3rd quarter valued at about $118,000. Alps Advisors Inc. bought a new position in Americas Gold and Silver in the 3rd quarter valued at about $27,261,000. Commonwealth Equity Services LLC bought a new position in Americas Gold and Silver in the 3rd quarter valued at about $101,000. Finally, U S Global Investors Inc. bought a new position in Americas Gold and Silver in the 3rd quarter valued at about $11,397,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

About Americas Gold and Silver

Americas Gold and Silver Corporation is a precious metals mining company focused primarily on the exploration, development and production of silver, with additional exposure to zinc, lead and gold. The company owns and operates mining and processing assets in North America.

The company's principal producing assets include the Galena Complex in Idaho, which is an underground silver-lead mining operation, and the Cosalá Operations in Sinaloa, Mexico. The Cosalá complex includes the San Rafael mine and associated processing infrastructure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.