Gatos Silver (NYSE:GATO) Trading Up 7.6% – What’s Next?

Gatos Silver, Inc. (NYSE:GATO)’s stock price shot up 7.6% during mid-day trading on Thursday . The stock traded as high as $15.20 and last traded at $15.04. 181,668 shares were traded during trading, a decline of 69% from the average session volume of 582,740 shares. The stock had previously closed at $13.98.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. Royal Bank of Canada raised their target price 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 upped their price target on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research report on Thursday, September 26th. Finally, Canaccord Genuity Group cut shares of Gatos Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.90.

Gatos Silver Stock Performance

The company has a market capitalization of $1.04 billion, a PE ratio of 30.51 and a beta of 1.93. The stock has a fifty day moving average of $15.98 and a 200 day moving average of $14.23.

Institutional Trading of Gatos Silver

A number of institutional investors and hedge funds have recently bought and sold shares of GATO. Charles Schwab Investment Management Inc. increased its stake in Gatos Silver by 905.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 274,860 shares of the company’s stock worth $4,145,000 after acquiring an additional 247,510 shares during the last quarter. Versor Investments LP bought a new stake in Gatos Silver in the third quarter worth $2,953,000. Alpha DNA Investment Management LLC purchased a new stake in Gatos Silver during the second quarter valued at $404,000. Citigroup Inc. bought a new position in Gatos Silver during the third quarter valued at $10,676,000. Finally, K2 Principal Fund L.P. purchased a new position in shares of Gatos Silver in the 3rd quarter worth $2,037,000. 44.81% of the stock is currently owned by 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.