Gatos Silver (NYSE:GATO) Sees Large Volume Increase

Shares of Gatos Silver, Inc. (NYSE:GATO) saw unusually-strong trading volume on Tuesday . Approximately 509,410 shares were traded during trading, a decline of 1% from the previous session’s volume of 516,065 shares.The stock last traded at $15.27 and had previously closed at $15.08.

Wall Street Analyst Weigh In

Several analysts have commented on GATO shares. Royal Bank of Canada boosted their price target 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 lifted their price objective on Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research note on Thursday, September 26th. Finally, Cibc World Mkts upgraded Gatos Silver to a “strong-buy” rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.90.

Gatos Silver Price Performance

The firm has a market cap of $1.10 billion, a P/E ratio of 72.00 and a beta of 2.10. The stock’s 50-day simple moving average is $13.06 and its two-hundred day simple moving average is $11.50.

Gatos Silver (NYSE:GATO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02).

Hedge Funds Weigh In On Gatos Silver

A number of hedge funds have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP increased its stake in shares of Gatos Silver by 1.6% in the second quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock worth $36,578,000 after acquiring an additional 54,222 shares during the period. Sprott Inc. increased its stake in Gatos Silver by 9.1% during the fourth quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock worth $22,848,000 after purchasing an additional 291,052 shares during the period. Tidal Investments LLC purchased a new stake in shares of Gatos Silver during the first quarter worth $17,397,000. Mackenzie Financial Corp increased its stake in shares of Gatos Silver by 5.1% during the second quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock worth $13,836,000 after buying an additional 64,758 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Gatos Silver by 6.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock valued at $10,845,000 after purchasing an additional 80,889 shares during the last quarter. 44.81% of the stock is currently owned by 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.