Vizsla Silver (NYSE:VZLA) Trading Down 5.5% – Here’s Why

Vizsla Silver Corp. (NYSE:VZLA)’s share price fell 5.5% during trading on Wednesday . The stock traded as low as $2.22 and last traded at $2.23. 472,618 shares changed hands during trading, a decline of 52% from the average session volume of 982,345 shares. The stock had previously closed at $2.36.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VZLA. CIBC raised their target price on Vizsla Silver from $3.50 to $4.50 and gave the company an “outperformer” rating in a research report on Monday, July 29th. HC Wainwright boosted their target price on shares of Vizsla Silver from $3.50 to $3.75 and gave the company a “buy” rating in a report on Thursday, July 25th.

Vizsla Silver Stock Performance

The company’s 50 day simple moving average is $1.99 and its 200-day simple moving average is $1.80. The firm has a market capitalization of $527.28 million, a PE ratio of -44.80 and a beta of 0.97.

Vizsla Silver (NYSE:VZLA) last posted its quarterly earnings data on Thursday, September 12th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). On average, equities research analysts forecast that Vizsla Silver Corp. will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Equinox Partners Investment Management LLC purchased a new position in shares of Vizsla Silver during the first quarter worth approximately $7,023,000. LGT Fund Management Co Ltd. bought a new position in shares of Vizsla Silver during the 2nd quarter valued at $531,000. Marshall Wace LLP purchased a new position in Vizsla Silver in the 2nd quarter worth $407,000. U S Global Investors Inc. lifted its stake in Vizsla Silver by 17.7% in the third quarter. U S Global Investors Inc. now owns 1,075,000 shares of the company’s stock worth $2,058,000 after purchasing an additional 162,000 shares during the last quarter. Finally, K2 Principal Fund L.P. bought a new position in shares of Vizsla Silver during the second quarter valued at about $160,000. Institutional investors own 22.46% of the company’s stock.

Vizsla Silver Company Profile

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.