Gatos Silver (NYSE:GATO) Sees Unusually-High Trading Volume

Gatos Silver, Inc. (NYSE:GATO) saw unusually-high trading volume on Tuesday . Approximately 509,410 shares were traded during trading, a decline of 1% from the previous session’s volume of 516,065 shares.The stock last traded at $15.27 and had previously closed at $15.08.

Analysts Set New Price Targets

A number of research firms recently issued reports on GATO. CIBC lifted their target price on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 10th. Finally, Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Gatos Silver has a consensus rating of “Moderate Buy” and an average target price of $12.90.

Gatos Silver Trading Up 1.3 %

The firm’s fifty day moving average price is $12.93 and its 200-day moving average price is $11.42. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 68.59 and a beta of 2.09.

Gatos Silver (NYSE:GATO) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02).

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GATO. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Gatos Silver by 23,313.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock valued at $73,000 after acquiring an additional 6,994 shares during the period. XTX Topco Ltd purchased a new stake in shares of Gatos Silver during the second quarter worth approximately $112,000. Arizona State Retirement System acquired a new stake in shares of Gatos Silver during the second quarter worth $121,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Gatos Silver during the first quarter worth $172,000. Finally, Virtu Financial LLC acquired a new position in Gatos Silver in the 4th quarter valued at $182,000. 44.81% of the stock is owned by hedge funds and other 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.