Gatos Silver (NYSE:GATO) Stock Price Up 3.5% – Here’s What Happened

Gatos Silver, Inc. (NYSE:GATO)’s share price traded up 3.5% during trading on Thursday . The company 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 Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 10th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. CIBC boosted their target price on Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research note on Thursday, September 26th. Finally, Canaccord Genuity Group cut shares of Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.90.

Gatos Silver Trading Up 2.1 %

The stock has a market cap of $1.00 billion, a P/E ratio of 29.47 and a beta of 1.93. The business has a 50-day simple moving average of $16.45 and a 200 day simple moving average of $14.13.

Hedge Funds Weigh In On Gatos Silver

Several hedge funds and other institutional investors have recently bought and sold shares of GATO. Wilmington Savings Fund Society FSB bought a new position in shares of Gatos Silver in the third quarter valued at $271,000. Barclays PLC increased its holdings in Gatos Silver by 1,332.9% during the 3rd quarter. Barclays PLC now owns 10,116 shares of the company’s stock worth $152,000 after purchasing an additional 9,410 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Gatos Silver by 1.2% in the third quarter. Geode Capital Management LLC now owns 514,280 shares of the company’s stock worth $7,759,000 after purchasing an additional 5,991 shares during the last quarter. Vestcor Inc bought a new position in shares of Gatos Silver in the third quarter valued at approximately $398,000. Finally, K2 Principal Fund L.P. purchased a new position in shares of Gatos Silver during the third quarter valued at approximately $2,037,000. 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.