Gatos Silver (NYSE:GATO) Trading Up 7.2%

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GATO shares. BMO Capital Markets raised their target price on Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a report on Thursday, April 11th. Royal Bank of Canada lifted their price objective on shares of Gatos Silver from $6.50 to $7.00 and gave the company a “sector perform” rating in a report on Thursday, March 28th. Canaccord Genuity Group upgraded shares of Gatos Silver from a “hold” rating to a “buy” rating and boosted their price target for the stock from $6.50 to $12.50 in a research note on Tuesday. Finally, Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and increased their price objective for the company from $6.50 to $12.50 in a research note on Tuesday.

Gatos Silver Stock Performance

The company has a market capitalization of $694.57 million, a PE ratio of 53.37 and a beta of 2.21. The stock’s 50-day simple moving average is $7.79 and its 200 day simple moving average is $6.53.

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

Hedge Funds Weigh In On Gatos Silver

A number of hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of Gatos Silver during the fourth quarter worth $64,000. Tower Research Capital LLC TRC grew its holdings in Gatos Silver by 17.2% during the fourth 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 period. Barclays PLC purchased a new position in Gatos Silver in the third quarter worth $60,000. Jump Financial LLC acquired a new stake in Gatos Silver in the fourth quarter valued at $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Gatos Silver during the 4th quarter worth $130,000. 44.81% of the stock is currently owned by hedge funds and other 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.