Gatos Silver (NYSE:GATO) Hits New 1-Year High – Should You Buy?

Gatos Silver, Inc. (NYSE:GATO)’s stock price reached a new 52-week high on Monday . The stock traded as high as $19.14 and last traded at $19.14, with a volume of 9024 shares. The stock had previously closed at $18.47.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group reiterated a “hold” rating on shares of Gatos Silver in a report on Tuesday. CIBC lifted their price target on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on shares of Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 10th. Canaccord Genuity Group lowered Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Cibc World Mkts upgraded Gatos Silver to a “strong-buy” rating in a research report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Gatos Silver currently has a consensus rating of “Hold” and an average target price of $12.90.

Gatos Silver Price Performance

The company’s 50-day moving average price is $14.37 and its two-hundred day moving average price is $12.27. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 90.73 and a beta of 2.10.

Gatos Silver (NYSE:GATO) last issued its quarterly earnings results 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 Investors Weigh In On Gatos Silver

A number of hedge funds have recently added to or reduced their stakes in the business. Lingotto Investment Management LLP boosted its holdings in shares of Gatos Silver by 1.6% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock worth $36,578,000 after buying an additional 54,222 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Gatos Silver during the 1st quarter valued at $17,397,000. Mackenzie Financial Corp boosted its stake in Gatos Silver by 5.1% during the second quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock worth $13,836,000 after acquiring an additional 64,758 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Gatos Silver by 6.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock worth $10,845,000 after purchasing an additional 80,889 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Gatos Silver by 18.4% in the second quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock valued at $9,853,000 after purchasing an additional 146,462 shares in the last quarter. 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.