CIBC Downgrades Vizsla Silver (VZLA) to Neutral From Outperform – Here’s Why

Vizsla Silver Corp. (NYSEAMERICAN:VZLA) is one of the best penny stocks to buy according to Reddit. On March 6, Vizsla Silver Corp. (NYSEAMERICAN:VZLA) was downgraded to Neutral from Outperform by CIBC with a C$7 price target. The rating update came after Vizsla Silver Corp. (NYSEAMERICAN:VZLA) provided an additional update on the situation in Concordia, Mexico, on March 5, stating that in recent days, two additional families have received confirmation that their loved one is deceased. In addition, three colleagues are still missing.

Vizsla Silver Corp. (NYSEAMERICAN:VZLA) previously provided an update on the Concordia incident on February 12, reaffirming the company’s adherence to best practices in governance and safety in the long-term interest of the company and its stakeholders. It also confirmed that five colleagues remain unaccounted for.

This came after Vizsla Silver Corp. (NYSEAMERICAN:VZLA) announced on February 9 that it had been informed by a number of families that their relatives, who were taken from the company’s project site in Concordia, Mexico, had been found deceased. Vizsla Silver Corp. (NYSEAMERICAN:VZLA) added that it was awaiting confirmation from the Mexican authorities at the time.

Vizsla Silver Corp. (NYSEAMERICAN:VZLA) is a mineral exploration and development company that engages in the acquisition, exploration, and development of mineral resource properties, including a silver-gold project in Sinaloa, Mexico.

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