Gatos Silver (NYSE:GATO) Stock Price Up 7.2%

Gatos Silver, Inc. (NYSE:GATO) rose 7.2% during trading on Tuesday . The stock traded as high as $10.21 and last traded at $10.09. Approximately 117,845 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 330,417 shares. The stock had previously closed at $9.41.

Analyst Ratings Changes

GATO has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, March 28th. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and boosted their price target for the company from $6.50 to $12.50 in a research note on Tuesday. BMO Capital Markets boosted their price target on Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a research note on Thursday, April 11th. Finally, Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and boosted their price target for the company from $6.50 to $12.50 in a research note on Tuesday.

Gatos Silver Trading Down 2.1 %

The stock has a 50 day simple moving average of $7.95 and a 200-day simple moving average of $6.59. The firm has a market capitalization of $685.57 million, a P/E ratio of 52.16 and a beta of 2.21.

Gatos Silver (NYSE:GATO) last released 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.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in shares of Gatos Silver during the 4th quarter valued at about $64,000. Tower Research Capital LLC TRC lifted its position in shares of Gatos Silver by 17.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock valued at $75,000 after buying an additional 1,690 shares in the last quarter. Barclays PLC purchased a new position in shares of Gatos Silver during the 3rd quarter valued at about $60,000. Jump Financial LLC purchased a new position in shares of Gatos Silver during the 4th quarter valued at about $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Gatos Silver during the 4th quarter valued at about $130,000. 44.81% of the stock is owned by hedge funds and other institutional investors.

About Gatos Silver

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.