Gatos Silver (NYSE:GATO) Reaches New 1-Year High at $11.06

Gatos Silver, Inc. (NYSE:GATO)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $11.06 and last traded at $10.90, with a volume of 297422 shares changing hands. The stock had previously closed at $10.48.

Analyst Upgrades and Downgrades

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

Gatos Silver Stock Performance

The firm has a 50 day simple moving average of $8.80 and a two-hundred day simple moving average of $6.94. The firm has a market capitalization of $749.22 million, a P/E ratio of 55.16 and a beta of 2.10.

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

Hedge Funds Weigh In On Gatos Silver

A number of institutional investors have recently added to or reduced their stakes in GATO. Barclays PLC bought a new position in Gatos Silver in the third quarter valued at $60,000. International Assets Investment Management LLC purchased a new stake in shares of Gatos Silver in the 4th quarter valued at $64,000. Tower Research Capital LLC TRC grew its holdings in shares of Gatos Silver by 17.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock valued at $75,000 after purchasing an additional 1,690 shares during the last quarter. Jump Financial LLC purchased a new position in Gatos Silver in the 4th quarter worth $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Gatos Silver during the fourth quarter valued at about $130,000. 44.81% of the stock is currently owned by institutional investors.

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.