Gatos Silver (NYSE:GATO) Shares Up 3.5% – What’s Next?

Gatos Silver, Inc. (NYSE:GATO) shares rose 3.5% on Thursday . The company traded as high as $14.63 and last traded at $14.63. Approximately 18,458 shares traded hands during trading, a decline of 97% from the average daily volume of 584,837 shares. The stock had previously closed at $14.14.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. CIBC boosted their price objective on Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research report on Thursday, September 26th. Canaccord Genuity Group reissued a “hold” rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. Canaccord Genuity Group cut shares of Gatos Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada upped their price objective on shares of Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, Gatos Silver has an average rating of “Hold” and a consensus target price of $12.90.

Gatos Silver Price Performance

The company has a fifty day moving average price of $16.33 and a two-hundred day moving average price of $14.15. The firm has a market cap of $978.83 million, a price-to-earnings ratio of 28.76 and a beta of 1.93.

Institutional Investors Weigh In On Gatos Silver

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Gatos Silver by 53.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,807 shares of the company’s stock worth $163,000 after purchasing an additional 3,783 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Gatos Silver by 1.2% during the third quarter. Geode Capital Management LLC now owns 514,280 shares of the company’s stock worth $7,759,000 after buying an additional 5,991 shares in the last quarter. Barclays PLC grew its position in Gatos Silver by 1,332.9% in the third quarter. Barclays PLC now owns 10,116 shares of the company’s stock worth $152,000 after buying an additional 9,410 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Gatos Silver in the second quarter valued at $112,000. Finally, Arizona State Retirement System acquired a new stake in shares of Gatos Silver during the 2nd quarter valued at $121,000. 44.81% of the stock is owned by institutional investors and hedge funds.

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.