Gatos Silver (NYSE:GATO) Sets New 1-Year High at $12.43

Shares of Gatos Silver, Inc. (NYSE:GATO) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $12.43 and last traded at $12.15, with a volume of 82296 shares. The stock had previously closed at $11.99.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GATO. Royal Bank of Canada raised their price target 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 raised Gatos Silver from a “hold” rating to a “buy” rating and raised their price target for the stock from $6.50 to $12.50 in a report on Tuesday, April 23rd. BMO Capital Markets raised their price target on Gatos Silver from $8.00 to $9.00 and gave the stock a “market perform” rating in a report on Thursday, April 11th. Canaccord Genuity Group raised Gatos Silver from a “hold” rating to a “buy” rating and raised their price target for the stock from $6.50 to $12.50 in a report on Tuesday, April 23rd. Finally, CIBC raised Gatos Silver from a “neutral” rating to a “sector outperform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Gatos Silver Trading Up 1.0 %

The stock has a fifty day simple moving average of $9.55 and a two-hundred day simple moving average of $7.36. The company has a market cap of $837.77 million, a PE ratio of 55.05 and a beta of 2.10.

Gatos Silver (NYSE:GATO) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share for the quarter.

Institutional Trading of Gatos Silver

Several institutional investors have recently made changes to their positions in GATO. Sprott Inc. boosted its position in Gatos Silver by 9.1% during the 4th 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 acquired a new stake in shares of Gatos Silver in the 1st quarter valued at about $17,397,000. Van ECK Associates Corp raised its stake in shares of Gatos Silver by 17.3% in the 4th quarter. Van ECK Associates Corp now owns 2,027,870 shares of the company’s stock valued at $13,262,000 after purchasing an additional 298,425 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake 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 in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Gatos Silver in the 4th quarter valued at about $182,000. 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.