Gatos Silver (NYSE:GATO) Sees Unusually-High Trading Volume

Gatos Silver, Inc. (NYSE:GATO) saw unusually-strong trading volume on Thursday . Approximately 507,323 shares were traded during trading, an increase of 11% from the previous session’s volume of 455,317 shares.The stock last traded at $14.19 and had previously closed at $13.04.

Analyst Upgrades and Downgrades

Several research firms have commented on GATO. Royal Bank of Canada boosted their price objective on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday. CIBC cut their price target on shares of Gatos Silver from $18.00 to $15.00 and set an “outperformer” rating on the stock in a report on Friday, September 6th. Finally, Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.40.

Gatos Silver Price Performance

The stock has a market capitalization of $1.07 billion, a P/E ratio of 70.23 and a beta of 2.09. The stock’s fifty day moving average price is $12.38 and its 200 day moving average price is $10.70.

Gatos Silver (NYSE:GATO) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02).

Hedge Funds Weigh In On Gatos Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC purchased a new position in Gatos Silver during the first quarter valued at approximately $17,397,000. Sprott Inc. increased its holdings in shares of Gatos Silver by 9.1% in the 4th quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock valued at $22,848,000 after acquiring an additional 291,052 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Gatos Silver by 18.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock worth $9,853,000 after acquiring an additional 146,462 shares in the last quarter. U S Global Investors Inc. purchased a new stake in shares of Gatos Silver during the 2nd quarter worth $940,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Gatos Silver by 6.7% during the first 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. 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.