Gatos Silver (NYSE:GATO) Shares Gap Up to $11.15

Gatos Silver, Inc. (NYSE:GATOGet Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $11.15, but opened at $11.44. Gatos Silver shares last traded at $12.02, with a volume of 38,767 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GATO shares. Cibc World Mkts raised Gatos Silver to a “strong-buy” rating in a report on Wednesday, May 22nd. Royal Bank of Canada increased their price target on shares of Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 28th. 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 report on Tuesday, April 23rd. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and lifted their target price for the company from $6.50 to $12.50 in a research report on Tuesday, April 23rd. Finally, BMO Capital Markets raised their price target on shares of Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.40.

View Our Latest Report on GATO

Gatos Silver Stock Performance

The company has a market cap of $886.20 million, a price-to-earnings ratio of 54.18 and a beta of 2.10. The stock’s fifty day moving average is $11.07 and its two-hundred day moving average is $8.67.

Gatos Silver (NYSE:GATOGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Gatos Silver during the fourth quarter valued at about $64,000. Tower Research Capital LLC TRC boosted its stake in Gatos Silver by 17.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after purchasing an additional 1,690 shares during the period. Jump Financial LLC purchased a new stake in shares of Gatos Silver in the fourth quarter worth about $94,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Gatos Silver in the fourth quarter valued at approximately $130,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Gatos Silver in the first quarter valued at approximately $172,000. 44.81% of the stock is owned by institutional investors.

About Gatos Silver

(Get Free Report)

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.

Further Reading

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