Gatos Silver (NYSE:GATO) Sees Unusually-High Trading Volume After Analyst Upgrade

Gatos Silver, Inc. (NYSE:GATO) shares saw an uptick in 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. 143,590 shares were traded during mid-day 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 boosted their target price on 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 Inflows and Outflows

Several institutional investors have recently bought and sold shares of GATO. Swiss National Bank raised its stake in Gatos Silver by 7.6% during the first quarter. Swiss National Bank now owns 98,000 shares of the company’s stock worth $423,000 after acquiring an additional 6,900 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Gatos Silver by 21.4% in the first quarter. JPMorgan Chase & Co. now owns 21,935 shares of the company’s stock valued at $95,000 after buying an additional 3,871 shares during the period. MetLife Investment Management LLC increased its stake in shares of Gatos Silver by 57.0% in the first quarter. MetLife Investment Management LLC now owns 28,113 shares of the company’s stock valued at $121,000 after buying an additional 10,206 shares during the period. Rhumbline Advisers increased its stake in shares of Gatos Silver by 18.9% in the first quarter. Rhumbline Advisers now owns 46,688 shares of the company’s stock valued at $202,000 after buying an additional 7,417 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Gatos Silver by 1.8% in the first quarter. BlackRock Inc. now owns 3,542,883 shares of the company’s stock valued at $15,305,000 after buying an additional 63,615 shares during the period. Institutional investors and hedge funds own 44.81% of the company’s stock.

Gatos Silver Price Performance

The company has a fifty day moving average of $7.42 and a 200 day moving average of $6.31. The firm has a market capitalization of $677.28 million, a P/E ratio of 51.53 and a beta of 2.21.

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

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.