Gatos Silver (NYSE:GATO) Reaches New 12-Month High - Still a Buy?

Shares of Gatos Silver, Inc. (NYSE:GATO - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $19.14 and last traded at $19.14, with a volume of 9024 shares traded. The stock had previously closed at $18.47.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Cibc World Mkts upgraded Gatos Silver to a "strong-buy" rating in a research report on Wednesday, July 10th. CIBC upped their price objective on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an "outperformer" rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada lifted their target price 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, September 10th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.90.

Gatos Silver Stock Performance

The business's 50-day moving average is $14.37 and its 200 day moving average is $12.27. The company has a market cap of $1.33 billion, a PE ratio of 87.55 and a beta of 2.10.

Gatos Silver (NYSE:GATO - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02).

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Lingotto Investment Management LLP boosted its position in Gatos Silver by 1.6% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company's stock valued at $36,578,000 after buying an additional 54,222 shares during the period. Tidal Investments LLC purchased a new stake in shares of Gatos Silver during the first quarter worth about $17,397,000. Mackenzie Financial Corp grew its stake in shares of Gatos Silver by 5.1% in the second quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company's stock worth $13,836,000 after purchasing an additional 64,758 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Gatos Silver by 6.7% during the 1st 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 during the period. Finally, Dimensional Fund Advisors LP raised its position in Gatos Silver by 18.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company's stock valued at $9,853,000 after purchasing an additional 146,462 shares during the last quarter. Institutional investors 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.