Vizsla Silver (NYSE:VZLA) Reaches New 12-Month High - What's Next?

Key Points

• Vizsla Silver Corp. reached a new 52-week high of $4.69 during trading, closing at $4.59 with a trading volume of 220,703 shares.
• Analysts have mixed views on the stock, with Zacks Research downgrading it to a "hold" rating, while National Bank Financial upgraded it to a "strong-buy." The consensus price target now sits at $3.25.
• Institutional investors have significantly increased their stakes in Vizsla Silver, with Bank of America Corp DE boosting its holdings by 274.5% in the second quarter.

Vizsla Silver Corp. (NYSE:VZLA - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $4.69 and last traded at $4.59, with a volume of 220703 shares changing hands. The stock had previously closed at $4.42.

Analysts Set New Price Targets

VZLA has been the topic of several analyst reports. Zacks Research downgraded Vizsla Silver from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. National Bank Financial raised Vizsla Silver to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Roth Capital reissued a "buy" rating on shares of Vizsla Silver in a report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Vizsla Silver currently has an average rating of "Buy" and a consensus price target of $3.25.

Vizsla Silver Stock Up 4.6%

The firm has a market capitalization of $1.58 billion, a PE ratio of -462.50 and a beta of 0.98. The stock has a 50-day moving average price of $3.64 and a 200 day moving average price of $3.02.

Institutional Trading of Vizsla Silver

Several institutional investors have recently modified their holdings of the stock. Sprott Inc. boosted its stake in Vizsla Silver by 3.9% during the 1st quarter. Sprott Inc. now owns 23,703,712 shares of the company's stock worth $54,084,000 after purchasing an additional 898,246 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Vizsla Silver by 9.3% in the second quarter. Franklin Resources Inc. now owns 15,291,000 shares of the company's stock worth $45,146,000 after acquiring an additional 1,306,000 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Vizsla Silver during the second quarter worth $24,562,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Vizsla Silver by 36.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,255,993 shares of the company's stock valued at $24,323,000 after acquiring an additional 2,202,837 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Vizsla Silver by 274.5% in the second quarter. Bank of America Corp DE now owns 8,022,629 shares of the company's stock valued at $23,587,000 after purchasing an additional 5,880,575 shares during the period. Institutional investors and hedge funds own 22.46% of the company's stock.

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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