Gatos Silver (NYSE:GATO) Shares Gap Down to $10.15

Gatos Silver, Inc. (NYSE:GATO) gapped down before the market opened on Tuesday . The stock had previously closed at $10.15, but opened at $9.66. Gatos Silver shares last traded at $9.81, with a volume of 94,562 shares.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Gatos Silver from $6.50 to $7.00 and gave the company 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 increased their price objective for the stock from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and raised their price objective for the stock from $6.50 to $12.50 in a research report on Tuesday, April 23rd. Finally, BMO Capital Markets upped their target price on Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a report on Thursday, April 11th.

Gatos Silver Price Performance

The firm has a market capitalization of $667.59 million, a PE ratio of 50.79 and a beta of 2.10. The company has a fifty day moving average of $8.28 and a 200-day moving average of $6.74.

Gatos Silver (NYSE:GATO) last posted 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.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GATO. Barclays PLC bought a new position in Gatos Silver in the 3rd quarter worth $60,000. International Assets Investment Management LLC acquired a new position in shares of Gatos Silver during the fourth quarter worth approximately $64,000. Tower Research Capital LLC TRC boosted its position in shares of Gatos Silver by 17.2% in the fourth 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 during the period. Jump Financial LLC acquired a new stake in Gatos Silver in the 4th quarter worth $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Gatos Silver in the fourth quarter valued at about $130,000. Institutional investors and hedge funds own 44.81% of the company’s stock.

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.