Gatos Silver (NYSE:GATO) Shares Gap Down to $10.15

Gatos Silver, Inc. (NYSE:GATO)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $10.15, but opened at $9.66. Gatos Silver shares last traded at $9.81, with a volume of 94,562 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GATO shares. Canaccord Genuity Group raised 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. 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 research report on Thursday, March 28th. BMO Capital Markets lifted their price objective on shares of Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a research report on Thursday, April 11th. Finally, Canaccord Genuity Group upgraded shares of Gatos Silver from a “hold” rating to a “buy” rating and lifted their price objective for the company from $6.50 to $12.50 in a research report on Tuesday, April 23rd.

Gatos Silver Price Performance

The firm’s 50-day moving average is $8.20 and its two-hundred day moving average is $6.71. The company has a market cap of $673.81 million, a P/E ratio of 53.26 and a beta of 2.21.

Gatos Silver (NYSE:GATO) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.06 by $0.12.

Institutional Trading of Gatos Silver

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC bought a new position in Gatos Silver in the third quarter worth about $60,000. International Assets Investment Management LLC bought a new position in Gatos Silver in the fourth quarter worth about $64,000. Tower Research Capital LLC TRC raised its holdings in Gatos Silver by 17.2% in the fourth 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 in the last quarter. Jump Financial LLC bought a new position in Gatos Silver in the fourth quarter worth about $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Gatos Silver in the fourth quarter worth about $130,000. 44.81% of the stock is 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.