Vista Gold (NYSE:VGZ) Trading Up 9.1% - Still a Buy?

Key Points

• Vista Gold Corp. shares surged 9.1% during trading, reaching a high of $1.56, with trading volume increasing by 55% compared to the average.
• HC Wainwright upgraded its price target for Vista Gold from $2.75 to $3.00, maintaining a "buy" rating based on the company's positive outlook.
• The company has seen significant institutional interest, with several firms purchasing new stakes, including Jane Street Group LLC and Orion Portfolio Solutions LLC, which increased its stake by 202.7%.

Vista Gold Corp. (NYSE:VGZ - Get Free Report)'s share price traded up 9.1% during trading on Wednesday . The company traded as high as $1.56 and last traded at $1.56. 1,033,504 shares traded hands during mid-day trading, an increase of 55% from the average session volume of 665,099 shares. The stock had previously closed at $1.43.

Analysts Set New Price Targets

Separately, HC Wainwright lifted their price target on Vista Gold from $2.75 to $3.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $3.00.

Vista Gold Trading Up 18.6%

The stock has a 50 day simple moving average of $1.15 and a 200 day simple moving average of $1.00. The firm has a market capitalization of $271.64 million, a PE ratio of 24.11 and a beta of 0.94.

Hedge Funds Weigh In On Vista Gold

Several hedge funds have recently made changes to their positions in the business. Redmond Asset Management LLC increased its stake in shares of Vista Gold by 2.2% during the second quarter. Redmond Asset Management LLC now owns 945,110 shares of the company's stock valued at $922,000 after buying an additional 20,000 shares during the period. Jane Street Group LLC purchased a new position in shares of Vista Gold during the first quarter valued at approximately $30,000. Captrust Financial Advisors purchased a new position in shares of Vista Gold during the second quarter valued at approximately $40,000. Orion Porfolio Solutions LLC increased its stake in shares of Vista Gold by 202.7% during the second quarter. Orion Porfolio Solutions LLC now owns 96,154 shares of the company's stock valued at $94,000 after buying an additional 64,392 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Vista Gold by 4.2% during the first quarter. Cetera Investment Advisers now owns 2,080,700 shares of the company's stock valued at $1,723,000 after buying an additional 83,800 shares during the period. 27.29% of the stock is owned by hedge funds and other institutional investors.

Vista Gold Company Profile

Vista Gold Corp., together with its subsidiaries, acquires, explores, evaluates, and advances gold exploration and development projects in Australia. Its flagship asset is the 100% owned Mt Todd gold project located in Northern Territory, Australia. The company was incorporated in 1983 and is based in Englewood, Colorado.