Gatos Silver (NYSE:GATO) Sees Large Volume Increase on Analyst Upgrade

Gatos Silver, Inc. (NYSE:GATO) shares saw unusually-high trading volume on Friday after BMO Capital Markets raised their price target on the stock from $8.00 to $9.00. BMO Capital Markets currently has a market perform rating on the stock. Approximately 143,590 shares changed hands during trading, a decline of 54% from the previous session’s volume of 311,289 shares.The stock last traded at $10.54 and had previously closed at $9.72.

Separately, Royal Bank of Canada increased their price objective on shares of Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 28th.

Institutional Investors Weigh In On Gatos Silver

A number of hedge funds have recently made changes to their positions in GATO. Tower Research Capital LLC TRC boosted its stake in shares of Gatos Silver by 11,226.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,854 shares of the company’s stock valued at $51,000 after purchasing an additional 9,767 shares in the last quarter. Ethic Inc. acquired a new stake in Gatos Silver during the 1st quarter worth approximately $55,000. Barclays PLC acquired a new stake in Gatos Silver during the 3rd quarter worth approximately $60,000. International Assets Investment Management LLC acquired a new stake in Gatos Silver during the 4th quarter worth approximately $64,000. Finally, Walleye Capital LLC acquired a new stake in Gatos Silver during the 2nd quarter worth approximately $67,000. 44.81% of the stock is currently owned by institutional investors and hedge funds.

Gatos Silver Trading Up 0.8 %

The firm’s 50-day moving average is $7.42 and its 200 day moving average is $6.32. The firm has a market capitalization of $677.96 million, a price-to-earnings ratio of 51.58 and a beta of 2.21.

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

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.