Gatos Silver (NYSE:GATO) Reaches New 12-Month High – What’s Next?

Gatos Silver, Inc. (NYSE:GATO)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $20.31 and last traded at $20.03, with a volume of 153421 shares traded. The stock had previously closed at $19.31.

Analyst Ratings Changes

Several research firms have recently commented on GATO. Canaccord Genuity Group restated a “hold” rating on shares of Gatos Silver in a research report on Tuesday, October 22nd. Royal Bank of Canada raised their target price on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. Cibc World Mkts upgraded shares of Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. Canaccord Genuity Group lowered shares of Gatos Silver from a “buy” rating to a “hold” rating in a research note 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 research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gatos Silver presently has an average rating of “Hold” and an average price target of $12.90.

Gatos Silver Trading Up 2.5 %

The firm has a market cap of $1.37 billion, a PE ratio of 48.18 and a beta of 2.10. The firm has a 50 day moving average price of $15.11 and a 200-day moving average price of $12.63.

Gatos Silver (NYSE:GATO) 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 Trading of Gatos Silver

A number of institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Gatos Silver by 23,313.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock valued at $73,000 after buying an additional 6,994 shares during the last quarter. XTX Topco Ltd acquired a new position in Gatos Silver in the second quarter valued at $112,000. Arizona State Retirement System purchased a new position in shares of Gatos Silver during the second quarter worth about $121,000. American Century Companies Inc. grew its holdings in shares of Gatos Silver by 17.3% during the second quarter. American Century Companies Inc. now owns 84,930 shares of the company’s stock worth $887,000 after purchasing an additional 12,522 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Gatos Silver during the second quarter worth about $185,000. 44.81% of the stock is owned by hedge funds and other institutional investors.

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.