Gatos Silver (NYSE:GATO) Stock Price Up 5.8% – Still a Buy?

Gatos Silver, Inc. (NYSE:GATO)’s share price shot up 5.8% during trading on Thursday . The company traded as high as $16.35 and last traded at $16.35. 416,845 shares were traded during mid-day trading, a decline of 26% from the average session volume of 565,095 shares. The stock had previously closed at $15.45.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GATO. Royal Bank of Canada boosted their price objective on Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a research note 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 downgraded Gatos Silver from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, CIBC boosted their target price on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research note on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.90.

Gatos Silver Price Performance

The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 31.53 and a beta of 2.05. The firm has a 50-day moving average price of $16.27 and a two-hundred day moving average price of $13.24.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GATO. Tidal Investments LLC bought a new position in Gatos Silver in the first quarter valued at approximately $17,397,000. Alpine Associates Management Inc. bought a new position in Gatos Silver in the third quarter valued at approximately $20,018,000. Citigroup Inc. acquired a new stake in shares of Gatos Silver in the third quarter valued at approximately $10,676,000. Charles Schwab Investment Management Inc. lifted its position in shares of Gatos Silver by 905.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 274,860 shares of the company’s stock valued at $4,145,000 after buying an additional 247,510 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Gatos Silver in the third quarter valued at approximately $2,953,000. 44.81% of the stock is owned by institutional investors and hedge funds.

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.