Gatos Silver (NYSE:GATO) Shares Up 3.5% - Here's What Happened

Gatos Silver, Inc. (NYSE:GATO - Get Free Report)'s stock price shot up 3.5% during mid-day trading on Thursday . The stock traded as high as $14.63 and last traded at $14.63. 18,458 shares were traded during trading, a decline of 97% from the average session volume of 584,837 shares. The stock had previously closed at $14.14.

Wall Street Analyst Weigh In

GATO has been the topic of a number of analyst reports. Royal Bank of Canada upped 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 note on Tuesday, September 10th. Canaccord Genuity Group reiterated a "hold" rating on shares of Gatos Silver in a report on Tuesday, October 22nd. Canaccord Genuity Group lowered Gatos Silver from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Finally, CIBC upped their target price on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an "outperformer" rating in a research note on Thursday, September 26th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $12.90.

Gatos Silver Trading Up 2.0 %

The business's fifty day simple moving average is $16.45 and its 200-day simple moving average is $14.13. The firm has a market cap of $1.00 billion, a P/E ratio of 29.43 and a beta of 1.93.

Institutional Investors Weigh In On Gatos Silver

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in Gatos Silver by 905.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 274,860 shares of the company's stock worth $4,145,000 after buying an additional 247,510 shares in the last quarter. Versor Investments LP purchased a new position in shares of Gatos Silver during the third quarter valued at approximately $2,953,000. Alpha DNA Investment Management LLC bought a new position in Gatos Silver in the 2nd quarter worth $404,000. Citigroup Inc. purchased a new position in shares of Gatos Silver in the 3rd quarter valued at approximately $10,676,000. Finally, K2 Principal Fund L.P. purchased a new position in Gatos Silver during the third quarter valued at $2,037,000. 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.