Gatos Silver (NYSE:GATO) Hits New 12-Month High – Here’s What Happened

Gatos Silver, Inc. (NYSE:GATO) reached a new 52-week high on Monday . The company traded as high as $19.14 and last traded at $19.14, with a volume of 9024 shares. The stock had previously closed at $18.47.

Wall Street Analysts Forecast Growth

Several analysts have commented on GATO shares. CIBC raised their price objective on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a report on Thursday, September 26th. Cibc World Mkts upgraded shares of Gatos Silver to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada lifted their target price on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.90.

Gatos Silver Stock Performance

The company has a 50 day moving average of $14.22 and a 200 day moving average of $12.20. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 83.95 and a beta of 2.10.

Gatos Silver (NYSE:GATO) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02).

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GATO. Alpha DNA Investment Management LLC purchased a new stake in shares of Gatos Silver in the second quarter valued at approximately $404,000. Dimensional Fund Advisors LP boosted its stake in Gatos Silver by 18.4% during the second quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock worth $9,853,000 after buying an additional 146,462 shares during the last quarter. ClariVest Asset Management LLC grew its holdings in Gatos Silver by 23.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 248,312 shares of the company’s stock valued at $2,592,000 after buying an additional 46,407 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Gatos Silver by 6.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock worth $10,845,000 after acquiring an additional 80,889 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Gatos Silver by 5.1% during the 2nd quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock worth $13,836,000 after acquiring an additional 64,758 shares during the period. 44.81% of the stock is owned by hedge funds and other institutional investors.

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.