Gatos Silver (NYSE:GATO) Shares Up 7.6%

Shares of Gatos Silver, Inc. (NYSE:GATO) shot up 7.6% during mid-day trading on Wednesday . The stock traded as high as $11.07 and last traded at $11.03. 122,255 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 408,941 shares. The stock had previously closed at $10.25.

Analysts Set New Price Targets

GATO has been the topic of a number of research reports. Royal Bank of Canada upped their price target 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 raised shares of 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 report on Tuesday, April 23rd. Canaccord Genuity Group raised shares of 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 report on Tuesday, April 23rd. Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a report on Wednesday, May 22nd. Finally, CIBC raised shares of Gatos Silver from a “neutral” rating to a “sector outperform” rating and boosted their price objective for the company from $11.25 to $16.00 in a report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Gatos Silver presently has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Gatos Silver Stock Performance

The stock’s fifty day moving average price is $11.00 and its two-hundred day moving average price is $8.55. The company has a market cap of $743.69 million, a P/E ratio of 48.86 and a beta of 2.10.

Gatos Silver (NYSE:GATO) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter.

Institutional Trading of Gatos Silver

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Gatos Silver by 17.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after acquiring an additional 1,690 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Gatos Silver by 0.8% during 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 during the period. International Assets Investment Management LLC bought a new position in Gatos Silver in the 4th quarter valued at approximately $64,000. Jump Financial LLC bought a new position in Gatos Silver in the 4th quarter valued at approximately $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Gatos Silver in the 4th quarter valued at approximately $130,000. Institutional investors own 44.81% of the company’s stock.

Gatos Silver Company Profile

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.