Gatos Silver (NYSE:GATO) Reaches New 1-Year High at $16.00

Gatos Silver, Inc. (NYSE:GATO)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $16.00 and last traded at $15.97, with a volume of 254430 shares changing hands. The stock had previously closed at $15.18.

Analyst Ratings Changes

GATO has been the subject of a number of research reports. Royal Bank of Canada increased their price target on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. CIBC decreased their target price on Gatos Silver from $18.00 to $15.00 and set an “outperformer” rating on the stock in a research report on Friday, September 6th. Finally, Cibc World Mkts upgraded Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.40.

Gatos Silver Stock Performance

The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 73.73 and a beta of 2.09. The firm’s 50-day moving average price is $12.67 and its two-hundred day moving average price is $11.13.

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

Institutional Trading of Gatos Silver

A number of large investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Gatos Silver in the 2nd quarter valued at $702,000. Mackenzie Financial Corp boosted its position in Gatos Silver by 5.1% in the second 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 acquired a new position in Gatos Silver in the second quarter valued at about $404,000. Squarepoint Ops LLC bought a new stake in Gatos Silver during the second quarter worth about $185,000. Finally, XTX Topco Ltd acquired a new stake in shares of Gatos Silver during the second quarter worth approximately $112,000. 44.81% of the stock is currently owned by institutional investors.

About Gatos Silver

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.