Short Interest in Vista Gold Corp. (NYSEAMERICAN:VGZ) Grows By 265.2%

Key Points

• Short interest in Vista Gold surged 265.2% in June, reaching 5.35 million shares, or about 3.8% of the float. The stock’s days-to-cover ratio is currently 1.2 days.
• Analysts remain bullish on VGZ, with HC Wainwright reiterating a buy rating and a $4.50 price target. That is also the consensus price target reported in the article.
• Institutional investors increased their exposure, highlighted by Kopernik Global Investors boosting its stake by 461.6% in the first quarter. Overall, hedge funds and other institutions own about 27.29% of the company.

Vista Gold Corp. (NYSEAMERICAN:VGZ - Get Free Report) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 5,353,848 shares, an increase of 265.2% from the June 15th total of 1,466,187 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average trading volume of 4,557,203 shares, the days-to-cover ratio is currently 1.2 days.

Analysts Set New Price Targets

Separately, HC Wainwright restated a "buy" rating and set a $4.50 price target on shares of Vista Gold in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Vista Gold currently has a consensus rating of "Buy" and an average price target of $4.50.

Institutional Trading of Vista Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kopernik Global Investors LLC raised its holdings in shares of Vista Gold by 461.6% in the first quarter. Kopernik Global Investors LLC now owns 13,852,010 shares of the company's stock valued at $27,150,000 after buying an additional 11,385,421 shares during the last quarter. Trek Financial LLC bought a new stake in Vista Gold during the 4th quarter worth about $4,040,000. Marshall Wace LLP bought a new stake in Vista Gold during the 4th quarter worth about $2,501,000. Renaissance Technologies LLC acquired a new stake in Vista Gold in the 1st quarter valued at about $1,677,000. Finally, Millennium Management LLC increased its position in Vista Gold by 411.3% in the 4th quarter. Millennium Management LLC now owns 519,601 shares of the company's stock valued at $1,024,000 after acquiring an additional 417,975 shares in the last quarter. 27.29% of the stock is currently owned by institutional investors and hedge funds.

Vista Gold Price Performance

Shares of NYSEAMERICAN:VGZ traded down $0.06 during trading on Monday, reaching $1.66. The stock had a trading volume of 2,733,860 shares, compared to its average volume of 3,100,090. The stock has a market capitalization of $242.31 million, a PE ratio of -27.67 and a beta of 1.25. Vista Gold has a 52 week low of $0.91 and a 52 week high of $3.13. The business's 50-day moving average price is $2.15 and its 200 day moving average price is $2.23.

Vista Gold (NYSEAMERICAN:VGZ - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.02) EPS for the quarter. Analysts forecast that Vista Gold will post -0.06 EPS for the current year.

Vista Gold Company Profile

Vista Gold Corp is a mineral exploration and development company focused on the acquisition, exploration and advancement of gold resource projects. The company’s primary objective is to bring high-quality gold deposits into production through systematic exploration, feasibility studies and environmental permitting. Vista Gold’s technical team applies modern exploration and development methodologies to de-risk assets and demonstrate the economic potential of its mineral holdings.

The company’s flagship asset is the Mt Todd gold project, located in the Northern Territory of Australia.

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