Gatos Silver (NYSE:GATO) Stock Price Up 6.8% – Still a Buy?

Shares of Gatos Silver, Inc. (NYSE:GATO) traded up 6.8% during mid-day trading on Friday . The company traded as high as $17.25 and last traded at $17.08. 127,296 shares changed hands during trading, a decline of 76% from the average session volume of 537,591 shares. The stock had previously closed at $15.99.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GATO shares. CIBC boosted their price objective on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a report on Thursday, September 26th. Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada upped their price target on shares of Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 10th. Two investment 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.90.

Gatos Silver Trading Up 15.5 %

The firm has a market capitalization of $1.28 billion, a P/E ratio of 83.95 and a beta of 2.10. The stock has a 50-day simple moving average of $14.22 and a two-hundred day simple moving average of $12.18.

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 the consensus estimate of $0.15 by ($0.02).

Institutional Investors Weigh In On Gatos Silver

Several large investors have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Gatos Silver during the fourth quarter valued at approximately $182,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Gatos Silver by 6.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock valued at $10,845,000 after acquiring an additional 80,889 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Gatos Silver in the 1st quarter worth $196,000. Tidal Investments LLC purchased a new stake in shares of Gatos Silver during the 1st quarter worth $17,397,000. Finally, U S Global Investors Inc. bought a new stake in Gatos Silver during the second quarter valued at about $940,000. Institutional investors own 44.81% of the company’s stock.

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.