Vizsla Silver (NYSE:VZLA) Shares Gap Up – Here’s Why

Vizsla Silver Corp. (NYSE:VZLA)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $2.32, but opened at $2.38. Vizsla Silver shares last traded at $2.42, with a volume of 303,214 shares.

Wall Street Analysts Forecast Growth

VZLA has been the subject of a number of research reports. BMO Capital Markets began coverage on Vizsla Silver in a research report on Friday, January 24th. They set an “outperform” rating for the company. Roth Mkm increased their price objective on shares of Vizsla Silver from $3.00 to $3.25 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, National Bank Financial assumed coverage on shares of Vizsla Silver in a research note on Thursday, December 19th. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $4.06.

Vizsla Silver Stock Performance

The firm has a fifty day simple moving average of $2.11 and a 200 day simple moving average of $1.99. The company has a market capitalization of $680.72 million, a PE ratio of -237.50 and a beta of 0.92.

Hedge Funds Weigh In On Vizsla Silver

Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new position in Vizsla Silver during the 3rd quarter worth about $1,916,000. Quantbot Technologies LP lifted its position in shares of Vizsla Silver by 142.9% in the 3rd quarter. Quantbot Technologies LP now owns 47,717 shares of the company’s stock worth $92,000 after purchasing an additional 28,072 shares during the period. Verition Fund Management LLC bought a new position in shares of Vizsla Silver during the third quarter valued at approximately $115,000. Raffles Associates LP increased its holdings in Vizsla Silver by 111.7% during the third quarter. Raffles Associates LP now owns 1,694,010 shares of the company’s stock valued at $3,252,000 after buying an additional 893,700 shares during the period. Finally, Integrated Wealth Concepts LLC raised its stake in Vizsla Silver by 29.0% in the third quarter. Integrated Wealth Concepts LLC now owns 52,117 shares of the company’s stock worth $100,000 after buying an additional 11,728 shares in the last quarter. Hedge funds and other institutional investors own 22.46% of the company’s stock.

About Vizsla Silver

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.