Americas Gold and Silver Corporation (NYSEAMERICAN:USAS) Stock Rockets 18% In a Week: But Why?

There has been a fair bit of interest in the Americas Gold and Silver Corporation (NYSEAMERICAN:USAS) stock in recent days and that can be gauged from the price action in the company’s stock.

Market Stats

On Wednesday, USAS stock jumped 6.67% at $1.05 with more than 1.46 million shares, compared to its average volume of 1.16 million shares. The stock has moved within a range of $1.0000 – 1.0900  after opening the trade at $1.

Key Buzz

The stock continued to be on the radars of investors yesterday and managed to end the day with gains of as much as 7%. The rally yesterday took its gains over the course of the past week to as much as 18%. While it is true that there was no specific news about the company yesterday but it should be noted that last week Americas Gold and Silver Corporation had provided an operations update and the rally was possibly triggered by that.

Hence, it might be the right time for investors to take a closer look at the operations update. The company noted that the Cosala Operations have started at the San Rafael mine. On the other hand, the Los Baceros mill operations have also been ramped up and Americas Gold and Silver Corporation expected the mill to be operating at full capacity within a month. It was also announced by the company that the concentrate shipments have also begun at the Cosala Operations again.

Traders Corner

USAS stock is trading above the 20-Day and 50-Day Moving averages of $0.92 and $0.90 respectively. However, the stock is trading below the 200-Day moving average of $1.68. The stock is up 38% in the past 3-month.