Gatos Silver (NYSE:GATO) Trading 3.5% Higher – Still a Buy?

Gatos Silver, Inc. (NYSE:GATO) shares shot up 3.5% on Thursday . The company traded as high as $14.63 and last traded at $14.63. 18,458 shares were traded during trading, a decline of 97% from the average session volume of 584,837 shares. The stock had previously closed at $14.14.

Analysts Set New Price Targets

A number of brokerages have issued reports on GATO. Canaccord Genuity Group downgraded shares of Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Gatos Silver in a research report on Tuesday, October 22nd. CIBC boosted their price objective on Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada raised their target price on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.90.

Gatos Silver Stock Up 2.1 %

The firm has a market capitalization of $1.00 billion, a PE ratio of 29.47 and a beta of 1.93. The stock has a 50-day simple moving average of $16.45 and a 200-day simple moving average of $14.13.

Institutional Trading of Gatos Silver

Several hedge funds and other institutional investors have recently modified their holdings of GATO. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Gatos Silver by 23,313.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock worth $73,000 after buying an additional 6,994 shares in the last quarter. XTX Topco Ltd bought a new position in Gatos Silver in the 2nd quarter valued at $112,000. Arizona State Retirement System purchased a new position in shares of Gatos Silver during the 2nd quarter valued at $121,000. Barclays PLC increased its holdings in shares of Gatos Silver by 1,332.9% in the third quarter. Barclays PLC now owns 10,116 shares of the company’s stock worth $152,000 after purchasing an additional 9,410 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Gatos Silver in the second quarter worth $185,000. Institutional investors own 44.81% of the company’s stock.

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.