Vizsla Silver (NYSEAMERICAN:VZLA) Shares Down 8.1% – What’s Next?

Shares of Vizsla Silver Corp. (NYSEAMERICAN:VZLA) were down 8.1% on Friday . The company traded as low as $3.57 and last traded at $3.5650. Approximately 5,372,162 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 11,799,518 shares. The stock had previously closed at $3.88.

Analyst Ratings Changes

A number of analysts have commented on the stock. National Bank Financial downgraded shares of Vizsla Silver from an “outperform” rating to a “sector perform” rating in a report on Tuesday, February 10th. Roth Mkm boosted their target price on shares of Vizsla Silver from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Cantor Fitzgerald began coverage on shares of Vizsla Silver in a research report on Monday, December 22nd. They set a “buy” rating and a $7.00 price target on the stock. Raymond James Financial reissued an “outperform” rating on shares of Vizsla Silver in a research report on Wednesday, January 14th. Finally, Canadian Imperial Bank of Commerce cut shares of Vizsla Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Vizsla Silver presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Vizsla Silver Stock Performance

The stock’s 50-day simple moving average is $4.93 and its 200 day simple moving average is $4.63. The company has a market capitalization of $1.25 billion, a PE ratio of -89.75 and a beta of 0.96.

Hedge Funds Weigh In On Vizsla Silver

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Waratah Capital Advisors Ltd. boosted its stake in Vizsla Silver by 26.0% in the third quarter. Waratah Capital Advisors Ltd. now owns 6,554,415 shares of the company’s stock valued at $28,315,000 after acquiring an additional 1,353,578 shares in the last quarter. Trek Financial LLC purchased a new position in shares of Vizsla Silver during the third quarter worth approximately $3,755,000. Sprott Inc. grew its position in shares of Vizsla Silver by 1.4% during the third quarter. Sprott Inc. now owns 22,851,053 shares of the company’s stock worth $98,691,000 after acquiring an additional 306,900 shares during the last quarter. Intact Investment Management Inc. acquired a new position in shares of Vizsla Silver in the 3rd quarter valued at $690,000. Finally, Alps Advisors Inc. raised its position in Vizsla Silver by 113.1% in the 3rd quarter. Alps Advisors Inc. now owns 3,390,528 shares of the company’s stock valued at $14,647,000 after purchasing an additional 1,799,269 shares during the last quarter. 22.46% of the stock is 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.