Gatos Silver (NYSE:GATO) Shares Gap Up – What’s Next?

Gatos Silver, Inc. (NYSE:GATO) shares gapped up prior to trading on Monday . The stock had previously closed at $15.90, but opened at $16.56. Gatos Silver shares last traded at $16.77, with a volume of 112,244 shares changing hands.

Wall Street Analyst Weigh In

GATO has been the topic of several recent research reports. Canaccord Genuity Group downgraded Gatos Silver from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. CIBC lifted their price target on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research note on Thursday, September 26th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their target price on shares of Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Gatos Silver has a consensus rating of “Hold” and a consensus price target of $12.90.

Gatos Silver Price Performance

The firm has a market capitalization of $1.16 billion, a P/E ratio of 34.27 and a beta of 2.05. The company has a fifty day moving average of $16.64 and a 200 day moving average of $13.45.

Institutional Investors Weigh In On Gatos Silver

A number of institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Gatos Silver by 23,313.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock worth $73,000 after buying an additional 6,994 shares during the last quarter. Barclays PLC lifted its stake in shares of Gatos Silver by 1,332.9% in the 3rd quarter. Barclays PLC now owns 10,116 shares of the company’s stock valued at $152,000 after purchasing an additional 9,410 shares during the period. XTX Topco Ltd bought a new stake in shares of Gatos Silver during the 2nd quarter valued at about $112,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Gatos Silver by 53.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,807 shares of the company’s stock worth $163,000 after purchasing an additional 3,783 shares during the period. Finally, Arizona State Retirement System bought a new stake in Gatos Silver in the second quarter worth approximately $121,000. 44.81% of the stock is 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.