Vizsla Silver (NYSEAMERICAN:VZLA) Reaches New 52-Week High - Time to Buy?

Key Points

• Vizsla Silver Corp. shares reached a new 52-week high at $4.89, closing at $4.83, with over 2.7 million shares traded.
• Brokerages are optimistic about VZLA, with a consensus rating of "Buy" and a target price of $3.25; however, Zacks Research has downgraded it from "strong-buy" to "hold."
• Institutional investors have increased their positions in Vizsla Silver, with notable increases from Pale Fire Capital SE and Cambridge Investment Research Advisors Inc.

Shares of Vizsla Silver Corp. (NYSEAMERICAN:VZLA - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $4.89 and last traded at $4.83, with a volume of 2757574 shares traded. The stock had previously closed at $4.52.

Analyst Ratings Changes

A number of brokerages recently issued reports on VZLA. Roth Capital reissued a "buy" rating on shares of Vizsla Silver in a research report on Monday, September 8th. National Bank Financial upgraded shares of Vizsla Silver to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Zacks Research cut shares of Vizsla Silver from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $3.25.

Vizsla Silver Trading Up 7.3%

The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -121.25 and a beta of 0.98. The firm's 50 day moving average price is $3.79 and its two-hundred day moving average price is $3.10.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Pale Fire Capital SE raised its holdings in Vizsla Silver by 25.6% in the 2nd quarter. Pale Fire Capital SE now owns 38,800 shares of the company's stock valued at $114,000 after acquiring an additional 7,900 shares during the period. Baader Bank Aktiengesellschaft bought a new stake in Vizsla Silver in the 2nd quarter valued at $30,000. Cambridge Investment Research Advisors Inc. grew its holdings in Vizsla Silver by 7.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 164,459 shares of the company's stock valued at $376,000 after buying an additional 10,975 shares in the last quarter. Accredited Investors Inc. bought a new position in Vizsla Silver during the 1st quarter worth $35,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Vizsla Silver during the first quarter worth $36,000. 22.46% of the stock is owned by institutional investors and hedge funds.

Vizsla Silver Company Profile

Vizsla Silver Corp. engages in the exploration, and development of precious and base metal assets. The company explores for gold, silver, and copper deposits. It owns 100% interest in the Panuco Project covering an area of 7,189.5 hectares located in located in southern Sinaloa, Mexico. The company was formerly known as Vizsla Resources Corp.

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