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

Gatos Silver, Inc. (NYSE:GATO) shares gapped down prior to trading 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

GATO has been the subject of several research reports. Royal Bank of Canada lifted their target price on Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 28th. BMO Capital Markets boosted their price objective on Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a research report on Thursday, April 11th. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.50 to $12.50 in a research report on Tuesday, April 23rd. Finally, Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.50 to $12.50 in a research report on Tuesday, April 23rd.

Gatos Silver Stock Performance

The firm has a 50 day simple moving average of $8.20 and a two-hundred day simple moving average of $6.71. The stock has a market cap of $673.81 million, a P/E ratio of 53.26 and a beta of 2.21.

Gatos Silver (NYSE:GATO) last announced its earnings results on Wednesday, February 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.12.

Institutional Trading of Gatos Silver

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of Gatos Silver in the 4th quarter worth $64,000. Tower Research Capital LLC TRC raised its stake in shares of 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 buying an additional 1,690 shares in the last quarter. Barclays PLC acquired a new position in shares of Gatos Silver in the 3rd quarter worth $60,000. Jump Financial LLC acquired a new position in shares of Gatos Silver in the 4th quarter worth $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Gatos Silver in the 4th quarter worth $130,000. 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.