Gatos Silver (NYSE:GATO) Sees Strong Trading Volume

Shares of Gatos Silver, Inc. (NYSE:GATO) saw an uptick in trading volume on Friday . 280,716 shares were traded during trading, a decline of 35% from the previous session’s volume of 433,789 shares.The stock last traded at $12.22 and had previously closed at $12.18.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Cibc World Mkts upgraded Gatos Silver to a “strong-buy” rating in a research report on Wednesday, July 10th. CIBC dropped their target price on Gatos Silver from $18.00 to $15.00 and set an “outperformer” rating on the stock in a report on Friday. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.20.

Gatos Silver Stock Performance

The stock has a fifty day simple moving average of $12.11 and a 200 day simple moving average of $10.47. The firm has a market cap of $795.58 million, a P/E ratio of 52.27 and a beta of 2.09.

Gatos Silver (NYSE:GATO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02).

Institutional Trading of Gatos Silver

Large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its position in shares of Gatos Silver by 5.1% during the 2nd quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock valued at $13,836,000 after buying an additional 64,758 shares in the last quarter. Alpha DNA Investment Management LLC bought a new stake in Gatos Silver during the 2nd quarter valued at approximately $404,000. Squarepoint Ops LLC bought a new stake in Gatos Silver during the 2nd quarter valued at approximately $185,000. Cubist Systematic Strategies LLC purchased a new position in Gatos Silver in the 2nd quarter worth approximately $702,000. Finally, XTX Topco Ltd purchased a new position in Gatos Silver during the second quarter valued at $112,000. 44.81% of the stock is currently owned by institutional investors.

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.