Americas Silver (NYSEAMERICAN:USAS) Stock Price Down 10.9%

Americas Silver Corp (NYSEAMERICAN:USAS)’s share price dropped 10.9% during mid-day trading on Tuesday . The company traded as low as $3.19 and last traded at $3.26, approximately 1,896,285 shares changed hands during mid-day trading. An increase of 773% from the average daily volume of 217,244 shares. The stock had previously closed at $3.66.

USAS has been the topic of a number of research reports. Zacks Investment Research upgraded Americas Silver from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. HC Wainwright reaffirmed a “buy” rating and set a $3.80 target price on shares of Americas Silver in a report on Tuesday, May 14th.

Americas Silver (NYSEAMERICAN:USAS) last posted its earnings results on Monday, May 13th. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.07). The business had revenue of $17.80 million during the quarter, compared to analyst estimates of $27.12 million.

A number of hedge funds have recently bought and sold shares of the business. Homrich & Berg bought a new position in shares of Americas Silver during the second quarter valued at approximately $28,000. US Bancorp DE bought a new stake in Americas Silver during the 2nd quarter valued at $33,000. Wells Fargo & Company MN raised its position in Americas Silver by 77.3% during the 2nd quarter. Wells Fargo & Company MN now owns 35,473 shares of the company’s stock valued at $83,000 after purchasing an additional 15,464 shares in the last quarter. King Luther Capital Management Corp bought a new stake in Americas Silver during the 2nd quarter valued at $167,000. Finally, ETF Managers Group LLC raised its position in Americas Silver by 30.1% during the 1st quarter. ETF Managers Group LLC now owns 360,649 shares of the company’s stock valued at $594,000 after purchasing an additional 83,460 shares in the last quarter.

About Americas Silver (NYSEAMERICAN:USAS)

Americas Silver Corporation engages in the acquisition, evaluation, exploration, development, and operation of mineral properties. The company explores for silver, lead, zinc and copper. It principally owns 100% interests in the Cosalá Operations consisting of 67 mining concessions that cover approximately 19,385 hectares located in the state of Sinaloa, Mexico; and Galena Complex situated near the town of Wallace in the state of Idaho, the United States.

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