Gatos Silver (NYSE:GATO) Shares Down 9.9%

Gatos Silver, Inc. (NYSE:GATO) fell 9.9% during mid-day trading on Monday . The stock traded as low as $9.76 and last traded at $10.34. 225,965 shares were traded during mid-day trading, a decline of 46% from the average session volume of 419,447 shares. The stock had previously closed at $11.47.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GATO. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and boosted their target price for the stock from $6.50 to $12.50 in a research note on Tuesday, April 23rd. BMO Capital Markets upped their target price 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. Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. CIBC boosted their price objective on shares of Gatos Silver from $16.00 to $18.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Canaccord Genuity Group upgraded shares of Gatos Silver from a “hold” rating to a “buy” rating and lifted their price target for the company from $6.50 to $12.50 in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.80.

Gatos Silver Stock Performance

The business’s 50-day moving average is $11.75 and its 200-day moving average is $9.50. The company has a market capitalization of $728.48 million, a PE ratio of 45.50 and a beta of 2.10.

Gatos Silver (NYSE:GATO) last released its earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Gatos Silver

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in shares of Gatos Silver in the 4th quarter worth about $64,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Gatos Silver by 0.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,211,756 shares of the company’s stock worth $7,925,000 after buying an additional 9,132 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Gatos Silver by 17.3% in the fourth quarter. Van ECK Associates Corp now owns 2,027,870 shares of the company’s stock worth $13,262,000 after buying an additional 298,425 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Gatos Silver during the fourth quarter valued at approximately $94,000. Finally, Tower Research Capital LLC TRC raised its holdings 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 acquiring an additional 1,690 shares during the last quarter. 44.81% of the stock is 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.