Gatos Silver (NYSE:GATO) Shares Gap Down to $9.68

Gatos Silver, Inc. (NYSE:GATO)’s share price gapped down before the market opened on Monday . The stock had previously closed at $9.68, but opened at $9.22. Gatos Silver shares last traded at $9.68, with a volume of 155,720 shares changing hands.

Analyst Ratings Changes

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

Gatos Silver Stock Performance

The business’s fifty day moving average price is $7.87 and its two-hundred day moving average price is $6.56. The stock has a market capitalization of $700.10 million, a P/E ratio of 53.26 and a beta of 2.21.

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

Institutional Investors Weigh In On Gatos Silver

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC bought a new stake in shares of Gatos Silver during the 3rd quarter worth approximately $60,000. International Assets Investment Management LLC bought a new stake in shares of Gatos Silver during the fourth quarter worth $64,000. Tower Research Capital LLC TRC boosted its stake in shares of Gatos Silver by 17.2% during the fourth 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 period. Jump Financial LLC bought a new position in shares of Gatos Silver in the fourth quarter worth about $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Gatos Silver in the 4th quarter worth about $130,000. Hedge funds and other institutional investors 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.