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

Shares of Vizsla Silver Corp. (NYSE:VZLA) gapped up before the market opened on Wednesday . The stock had previously closed at $1.71, but opened at $1.79. Vizsla Silver shares last traded at $1.75, with a volume of 921,070 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. National Bank Financial assumed coverage on Vizsla Silver in a research report on Thursday, December 19th. They set an “outperform” rating on the stock. Raymond James reaffirmed an “outperform” rating on shares of Vizsla Silver in a research report on Friday. BMO Capital Markets initiated coverage on Vizsla Silver in a research note on Friday, January 24th. They issued an “outperform” rating on the stock. Finally, Roth Mkm raised their price target on shares of Vizsla Silver from $3.00 to $3.25 and gave the company a “buy” rating in a report on Friday, January 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $4.06.

Vizsla Silver Stock Up 3.8 %

The stock has a 50 day simple moving average of $2.14 and a 200 day simple moving average of $2.00. The company has a market cap of $521.51 million, a price-to-earnings ratio of -177.50 and a beta of 0.75.

Hedge Funds Weigh In On Vizsla Silver

Several hedge funds and other institutional investors have recently bought and sold shares of VZLA. The Manufacturers Life Insurance Company purchased a new position in Vizsla Silver in the 3rd quarter valued at about $1,916,000. Verition Fund Management LLC purchased a new position in Vizsla Silver in the third quarter valued at about $115,000. Integrated Wealth Concepts LLC grew its stake in Vizsla Silver by 29.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 52,117 shares of the company’s stock valued at $100,000 after purchasing an additional 11,728 shares in the last quarter. Jane Street Group LLC increased its holdings in Vizsla Silver by 2,412.1% during the 3rd quarter. Jane Street Group LLC now owns 1,208,989 shares of the company’s stock worth $2,321,000 after purchasing an additional 1,160,863 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Vizsla Silver in the 3rd quarter valued at approximately $183,000. 22.46% of the stock is owned by institutional investors and hedge funds.

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.