Gatos Silver (NYSE:GATO) Trading Up 5.2% – Should You Buy?

Shares of Gatos Silver, Inc. (NYSE:GATO) rose 5.2% on Tuesday . The stock traded as high as $15.73 and last traded at $15.72. Approximately 89,092 shares were traded during trading, a decline of 85% from the average daily volume of 594,082 shares. The stock had previously closed at $14.95.

Wall Street Analyst Weigh In

GATO has been the topic of several recent analyst reports. Royal Bank of Canada increased their price objective on shares of Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 10th. Canaccord Genuity Group reiterated a “hold” rating on shares of Gatos Silver in a report on Tuesday, October 22nd. Canaccord Genuity Group lowered shares of Gatos Silver from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, CIBC increased their price objective on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.90.

Gatos Silver Trading Down 1.1 %

The stock’s 50-day moving average is $16.75 and its 200-day moving average is $13.79. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 32.23 and a beta of 1.93.

Institutional Trading of Gatos Silver

Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Gatos Silver by 23,313.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock valued at $73,000 after acquiring an additional 6,994 shares in the last quarter. Barclays PLC grew its position in shares of Gatos Silver by 1,332.9% during the third quarter. Barclays PLC now owns 10,116 shares of the company’s stock worth $152,000 after buying an additional 9,410 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Gatos Silver during the second quarter worth approximately $112,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 buying an additional 3,783 shares in the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of Gatos Silver during the second quarter worth approximately $121,000. Institutional investors and hedge funds 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.