Gatos Silver (NYSE:GATO) Shares Gap Up to $9.27

Shares of Gatos Silver, Inc. (NYSE:GATO - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $9.27, but opened at $9.54. Gatos Silver shares last traded at $9.35, with a volume of 138,314 shares.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised their target price on shares of Gatos Silver from $6.50 to $7.00 and gave the stock a "sector perform" rating in a report on Thursday, March 28th.

Gatos Silver Stock Performance

The stock has a market capitalization of $644.07 million, a price-to-earnings ratio of 49.21 and a beta of 2.21. The firm's fifty day simple moving average is $7.17 and its 200 day simple moving average is $6.21.

Gatos Silver (NYSE:GATO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.12.

Institutional Trading of Gatos Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in GATO. FMR LLC increased its holdings in Gatos Silver by 31.9% during the second quarter. FMR LLC now owns 8,702,556 shares of the company's stock worth $24,976,000 after buying an additional 2,105,025 shares during the last quarter. Condire Management LP increased its holdings in Gatos Silver by 1.3% during the fourth quarter. Condire Management LP now owns 5,750,000 shares of the company's stock worth $37,605,000 after buying an additional 75,085 shares during the last quarter. BlackRock Inc. increased its holdings in Gatos Silver by 1.8% during the first quarter. BlackRock Inc. now owns 3,542,883 shares of the company's stock worth $15,305,000 after buying an additional 63,615 shares during the last quarter. Sprott Inc. increased its holdings in Gatos Silver by 9.1% during the fourth quarter. Sprott Inc. now owns 3,496,292 shares of the company's stock worth $22,848,000 after buying an additional 291,052 shares during the last quarter. Finally, Exor Capital LLP increased its holdings in Gatos Silver by 20.1% during the fourth quarter. Exor Capital LLP now owns 3,449,447 shares of the company's stock worth $11,695,000 after buying an additional 576,790 shares during the last quarter. 44.81% of the stock is currently owned by institutional investors and hedge funds.

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.