Gatos Silver (NYSE:GATO) Shares Up 7.2%

Gatos Silver, Inc. (NYSE:GATO) shares traded up 7.2% on Tuesday . The stock traded as high as $10.21 and last traded at $10.09. 117,845 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 330,417 shares. The stock had previously closed at $9.41.

Analysts Set New Price Targets

Several research analysts recently commented on GATO shares. Royal Bank of Canada boosted their price objective on shares of Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 28th. BMO Capital Markets boosted their price target on Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a research note on Thursday, April 11th. Canaccord Genuity Group raised shares of Gatos Silver from a “hold” rating to a “buy” rating and upped their price target for the company from $6.50 to $12.50 in a report on Tuesday. Finally, Canaccord Genuity Group raised shares of Gatos Silver from a “hold” rating to a “buy” rating and lifted their target price for the company from $6.50 to $12.50 in a report on Tuesday.

Gatos Silver Stock Performance

The company’s 50-day moving average price is $7.79 and its 200-day moving average price is $6.53. The firm has a market capitalization of $694.57 million, a PE ratio of 53.37 and a beta of 2.21.

Gatos Silver (NYSE:GATO) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.12.

Hedge Funds Weigh In On Gatos Silver

Several institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC purchased a new stake in shares of Gatos Silver in the third quarter worth about $60,000. International Assets Investment Management LLC purchased a new position in Gatos Silver in the 4th quarter worth approximately $64,000. Tower Research Capital LLC TRC boosted 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 worth $75,000 after acquiring an additional 1,690 shares during the period. Jump Financial LLC acquired a new stake in Gatos Silver in the fourth quarter valued at approximately $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Gatos Silver during the fourth quarter valued at approximately $130,000. Hedge funds and other institutional investors own 44.81% of the company’s stock.

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.