The precious metals producing company Americas Gold and Silver Corporation (NYSEAMERICAN:USAS) may have been trading in a range on Tuesday but the company did provide its production update for the first quarter yesterday. It may be a good idea for investors to consider taking a look into it.
Trading Data
On Tuesday, USAS stock gained 0.93% to $1.08 with more than 917K shares, compared to its average volume of 884K shares. The stock moved within a range of $1.0500 – 1.1400 after opening trade at $1.09.
Americas Gold and Silver Provides Q1-2022 Production Results
For the quarter that ended on March 31, 2022, the consolidated attributable production came in at 300,000 silver ounces and 1,274,000 silver equivalent ounces. It proved to be a major uptick from the production performance back in the fourth fiscal quarter of 2021. The silver ounce production went up by as much as 45% while the silver equivalent ounces production shot up by 80%.
However, perhaps more importantly, the company also noted that the production of silver is going to continue to increase throughout the course of the second half of 2022. That is going to be brought about by the fact that production is going to be ramped up at the Upper Zone of the San Rafael deposit. At this point in time, it is going to be interesting to see if the stock can manage to come into focus among investors or not.
Key Quote
“The Company had a strong start to the 2022 and we expect that trend to continue as silver production ramps-up at both our Cosalá Operations in Sinaloa and the Galena Complex in Idaho over the rest of the year,” stated Americas President and CEO Darren Blasutti. “The Company’s balance sheet is steadily improving with the strong current silver, zinc and lead prices. Current spot silver and zinc are trading over 10% and 20% higher, respectively, than the average realized price the Company received this quarter. Strong metal prices and increasing silver production are expected to generate improved cash flow in the coming quarters.”
Technical Data
USAS stock is trading above the 20-Day and 50-Day Moving averages of $1.07 and $1.06 respectively. Moreover, the stock is trading above the 200-Day moving average of $1.
