Gatos Silver (NYSE:GATO) Trading 7.6% Higher

Shares of Gatos Silver, Inc. (NYSE:GATO) traded up 7.6% on Wednesday . The company traded as high as $11.07 and last traded at $11.03. 122,255 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 408,941 shares. The stock had previously closed at $10.25.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. CIBC upgraded Gatos Silver from a “neutral” rating to a “sector outperform” rating and raised their price target for the company from $11.25 to $16.00 in a research note on Wednesday, May 22nd. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and raised their price target for the company from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Royal Bank of Canada raised their price target on Gatos Silver from $6.50 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, March 28th. Cibc World Mkts upgraded Gatos Silver to a “strong-buy” rating in a research note on Wednesday, May 22nd. Finally, Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and lifted their target price for the stock from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gatos Silver presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.40.

Gatos Silver Trading Up 5.4 %

The company has a 50 day moving average of $10.97 and a 200-day moving average of $8.52. The firm has a market capitalization of $747.14 million, a P/E ratio of 50.14 and a beta of 2.11.

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

Institutional Trading of Gatos Silver

Several institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Gatos Silver in the 4th quarter valued at $64,000. Tower Research Capital LLC TRC raised its holdings in Gatos Silver by 17.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock valued at $75,000 after acquiring an additional 1,690 shares in the last quarter. Jump Financial LLC acquired a new position in Gatos Silver in the 4th quarter valued at $94,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Gatos Silver in the 4th quarter valued at $130,000. Finally, Cornerstone Investment Partners LLC acquired a new position in Gatos Silver in the 1st quarter valued at $172,000. 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.