Gatos Silver (NYSE:GATO) Shares Gap Up to $11.15

Gatos Silver, Inc. (NYSE:GATOGet Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $11.15, but opened at $11.44. Gatos Silver shares last traded at $12.02, with a volume of 38,767 shares changing hands.

Analysts Set New Price Targets

GATO has been the subject of a number of recent research reports. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a research note on Wednesday, May 22nd. Royal Bank of Canada lifted their target price on shares of Gatos Silver from $6.50 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, March 28th. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and increased their price target for the stock from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Finally, BMO Capital Markets boosted their price objective on Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.40.

Check Out Our Latest Stock Report on Gatos Silver

Gatos Silver Price Performance

The company’s 50-day simple moving average is $11.07 and its 200 day simple moving average is $8.67. The firm has a market cap of $886.20 million, a P/E ratio of 54.18 and a beta of 2.10.

Gatos Silver (NYSE:GATOGet Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter.

Institutional Trading of Gatos Silver

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in Gatos Silver in the fourth quarter worth $64,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Gatos Silver by 0.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,211,756 shares of the company’s stock worth $7,925,000 after acquiring an additional 9,132 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Gatos Silver by 17.3% in the fourth quarter. Van ECK Associates Corp now owns 2,027,870 shares of the company’s stock valued at $13,262,000 after purchasing an additional 298,425 shares during the period. Jump Financial LLC purchased a new position in Gatos Silver during the 4th quarter worth $94,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Gatos Silver by 17.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after buying an additional 1,690 shares during the period. Institutional investors own 44.81% of the company’s stock.

About Gatos Silver

(Get Free Report)

Gatos Silver, Inc engages in the exploration, development, and production of precious metals. It primarily explores for silver deposits. The company also explores for zinc, lead, copper, and gold ores. Its flagship asset is the Los Gatos District, including the Cerro Los Gatos mine in Chihuahua, Mexico.

Further Reading

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