Gatos Silver (NYSE:GATO) Sees Unusually-High Trading Volume

Gatos Silver, Inc. (NYSE:GATO) saw unusually-high trading volume on Tuesday . Approximately 509,410 shares traded hands during trading, a decline of 1% from the previous session’s volume of 516,065 shares.The stock last traded at $15.27 and had previously closed at $15.08.

Wall Street Analyst Weigh In

Several research analysts recently commented on GATO shares. 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. CIBC lifted their target price on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research note on Thursday, September 26th. Finally, Cibc World Mkts raised Gatos Silver to a “strong-buy” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.90.

Gatos Silver Stock Up 1.3 %

The business has a 50 day moving average price of $12.93 and a 200 day moving average price of $11.42. The stock has a market cap of $1.06 billion, a PE ratio of 68.59 and a beta of 2.09.

Gatos Silver (NYSE:GATO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02).

Hedge Funds Weigh In On Gatos Silver

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sprott Inc. boosted its position in shares of Gatos Silver by 9.1% during the 4th quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock worth $22,848,000 after purchasing an additional 291,052 shares during the period. Alpha DNA Investment Management LLC purchased a new position in Gatos Silver during the 2nd quarter valued at about $404,000. Mirae Asset Global Investments Co. Ltd. grew its position in Gatos Silver by 6.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock valued at $10,845,000 after acquiring an additional 80,889 shares in the last quarter. ClariVest Asset Management LLC increased its stake in Gatos Silver by 23.0% during the second quarter. ClariVest Asset Management LLC now owns 248,312 shares of the company’s stock worth $2,592,000 after purchasing an additional 46,407 shares during the period. Finally, Lingotto Investment Management LLP lifted its position in shares of Gatos Silver by 1.6% during the second quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock worth $36,578,000 after purchasing an additional 54,222 shares in the last quarter. 44.81% of the stock is currently 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.