Americas Gold and Silver (NYSEAMERICAN:USAS) Stock Price Down 10.6% – Here’s What Happened

Americas Gold and Silver Corporation (NYSEAMERICAN:USAS) was down 10.6% during mid-day trading on Friday . The stock traded as low as $5.26 and last traded at $5.2050. Approximately 1,727,898 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 6,511,556 shares. The stock had previously closed at $5.82.

Analyst Ratings Changes

Several analysts have recently issued reports on USAS shares. Canaccord Genuity Group initiated coverage on shares of Americas Gold and Silver in a research report on Tuesday, February 24th. They issued a “buy” rating on the stock. HC Wainwright restated a “buy” rating and set a $9.75 price target on shares of Americas Gold and Silver in a research report on Friday, April 17th. BMO Capital Markets restated an “outperform” rating on shares of Americas Gold and Silver in a research report on Tuesday, May 19th. Finally, TD Securities started coverage on shares of Americas Gold and Silver in a research report on Monday, February 9th. They set a “buy” rating on the stock. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Americas Gold and Silver currently has a consensus rating of “Buy” and an average price target of $9.75.

Americas Gold and Silver Stock Down 12.8%

The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -23.07 and a beta of 0.86. The business’s 50-day moving average is $5.96 and its two-hundred day moving average is $6.32. The company has a quick ratio of 1.54, a current ratio of 1.68 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On Americas Gold and Silver

A number of institutional investors have recently bought and sold shares of USAS. NewGen Equity Long Short Fund purchased a new position in Americas Gold and Silver during the second quarter worth about $25,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Americas Gold and Silver during the second quarter worth about $10,574,000. Arrowstreet Capital Limited Partnership raised its stake in Americas Gold and Silver by 554.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,501,488 shares of the company’s stock worth $23,498,000 after purchasing an additional 3,813,582 shares during the period. Montrusco Bolton Investments Inc. purchased a new position in Americas Gold and Silver during the third quarter worth about $9,954,000. Finally, Polar Asset Management Partners Inc. purchased a new position in Americas Gold and Silver during the fourth quarter worth about $12,999,000. 13.38% of the stock is owned by hedge funds and other institutional investors.

About Americas Gold and Silver

Americas Gold and Silver Corporation is a precious metals mining company focused on the exploration, development and production of silver and gold assets in North America. The company’s core operations center on the Cosalá district in Sinaloa, Mexico and the Relief Canyon mine in Nevada, where it pursues both open-pit and underground mining techniques. In addition to these producing mines, Americas Gold and Silver maintains an exploration portfolio designed to support future growth and reserve replacement.

The Cosalá operation comprises multiple silver-gold deposits accessed via ramp and portal infrastructure.