Vizsla Silver (NYSEAMERICAN:VZLA) Stock Price Down 3.6% – Here’s Why

Vizsla Silver Corp. (NYSEAMERICAN:VZLA)’s stock price traded down 3.6% on Wednesday . The company traded as low as $5.55 and last traded at $5.5650. 1,510,679 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 3,718,938 shares. The stock had previously closed at $5.77.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Cantor Fitzgerald began coverage on shares of Vizsla Silver in a research note on Monday. They set a “buy” rating and a $7.00 price objective for the company. Roth Capital upped their price target on shares of Vizsla Silver from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Vizsla Silver currently has an average rating of “Buy” and a consensus price target of $5.75.

Vizsla Silver Trading Down 2.9%

The business has a 50 day moving average of $4.63 and a 200-day moving average of $3.93. The firm has a market capitalization of $1.94 billion, a P/E ratio of -140.13 and a beta of 0.94.

Institutional Investors Weigh In On Vizsla Silver

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp acquired a new position in shares of Vizsla Silver during the 1st quarter worth about $36,000. Quarry LP bought a new stake in Vizsla Silver during the first quarter worth about $84,000. Cubist Systematic Strategies LLC boosted its position in Vizsla Silver by 534.5% during the first quarter. Cubist Systematic Strategies LLC now owns 370,837 shares of the company’s stock valued at $846,000 after purchasing an additional 312,395 shares during the last quarter. Amundi grew its stake in Vizsla Silver by 125.0% in the first quarter. Amundi now owns 2,250,000 shares of the company’s stock valued at $4,838,000 after purchasing an additional 1,250,000 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Vizsla Silver by 11.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,053,156 shares of the company’s stock valued at $13,837,000 after purchasing an additional 638,184 shares in the last quarter. 22.46% of the stock is currently owned by institutional investors and hedge funds.

About Vizsla Silver

Vizsla Silver Corp. is a Canada-based mineral exploration and development company focused on high-grade silver projects in Mexico. The company holds a portfolio of properties in the Panuco District of Sinaloa, where it is advancing its flagship Panuco Project, among several other exploration targets. These assets cover prolific epithermal vein systems that have historically produced significant silver and base metals.

The Panuco Project encompasses multiple mineralized zones over a 17,000-hectare land package, where ongoing drilling campaigns have reported consistent high-grade silver intercepts.