Vizsla Silver (NYSE:VZLA) Shares Up 8.9% – Here’s Why

Vizsla Silver Corp. (NYSE:VZLA)’s share price shot up 8.9% on Tuesday . The stock traded as high as $2.07 and last traded at $2.07. Approximately 793,480 shares were traded during mid-day trading, a decline of 54% from the average session volume of 1,735,985 shares. The stock had previously closed at $1.90.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on VZLA shares. Roth Mkm upped their price objective on Vizsla Silver from $3.00 to $3.25 and gave the company a “buy” rating in a report on Friday. National Bank Financial initiated coverage on Vizsla Silver in a research note on Thursday, December 19th. They issued an “outperform” rating on the stock. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $4.06.

Vizsla Silver Price Performance

The business has a 50 day simple moving average of $1.83 and a 200 day simple moving average of $1.92. The company has a market capitalization of $549.14 million, a price-to-earnings ratio of -197.00 and a beta of 0.86.

Hedge Funds Weigh In On Vizsla Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Accredited Investors Inc. purchased a new position in Vizsla Silver in the third quarter valued at $30,000. Sanctuary Advisors LLC purchased a new position in shares of Vizsla Silver in the 3rd quarter valued at about $37,000. Tidal Investments LLC purchased a new stake in shares of Vizsla Silver during the third quarter worth approximately $38,000. Virtu Financial LLC acquired a new stake in Vizsla Silver in the third quarter valued at approximately $81,000. Finally, Quantbot Technologies LP lifted its position in shares of Vizsla Silver by 142.9% during 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 last quarter. Hedge funds and other 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.