Gatos Silver (NYSE:GATO) Stock Price Up 7.2%

Gatos Silver, Inc. (NYSE:GATO) rose 7.2% on Tuesday . The company traded as high as $10.21 and last traded at $10.09. Approximately 117,845 shares changed hands during trading, a decline of 64% from the average daily volume of 330,417 shares. The stock had previously closed at $9.41.

Wall Street Analysts Forecast Growth

GATO has been the subject of a number of analyst reports. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and upped their price objective for the stock from $6.50 to $12.50 in a research note on Tuesday. BMO Capital Markets upped their price objective on Gatos Silver from $8.00 to $9.00 and gave the stock a “market perform” rating in a research note on Thursday, April 11th. Royal Bank of Canada increased their price target on Gatos Silver from $6.50 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, March 28th. Finally, Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and increased their price target for the company from $6.50 to $12.50 in a research note on Tuesday.

Gatos Silver Stock Down 2.1 %

The business has a 50 day simple moving average of $7.95 and a 200 day simple moving average of $6.59. The company has a market capitalization of $685.57 million, a PE ratio of 52.16 and a beta of 2.21.

Gatos Silver (NYSE:GATO) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GATO. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Gatos Silver by 2.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,202,624 shares of the company’s stock valued at $6,230,000 after purchasing an additional 23,996 shares during the period. Barclays PLC acquired a new position in shares of Gatos Silver in the third quarter valued at about $60,000. Van ECK Associates Corp increased its holdings in shares of Gatos Silver by 0.7% in the third quarter. Van ECK Associates Corp now owns 1,729,445 shares of the company’s stock valued at $8,959,000 after purchasing an additional 11,884 shares during the period. Sprott Inc. increased its holdings in shares of Gatos Silver by 2.6% in the third quarter. Sprott Inc. now owns 3,205,240 shares of the company’s stock valued at $16,603,000 after purchasing an additional 81,076 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Gatos Silver in the fourth quarter valued at about $64,000. 44.81% of the stock is owned by institutional investors and hedge funds.

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.