Gatos Silver (NYSE:GATO) Trading Up 4.1%

Gatos Silver, Inc. (NYSE:GATO - Get Free Report)'s stock price shot up 4.1% on Wednesday . The company traded as high as $9.78 and last traded at $9.70. 209,215 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 307,865 shares. The stock had previously closed at $9.32.

Analyst Upgrades and Downgrades

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

Gatos Silver Stock Performance

The stock has a market capitalization of $667.59 million, a price-to-earnings ratio of 50.47 and a beta of 2.21. The company's 50 day moving average is $7.23 and its 200 day moving average is $6.24.

Gatos Silver (NYSE:GATO - Get Free Report) last announced 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.

Hedge Funds Weigh In On Gatos Silver

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its holdings in Gatos Silver by 11,226.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,854 shares of the company's stock worth $51,000 after acquiring an additional 9,767 shares during the last quarter. Ethic Inc. acquired a new stake in shares of Gatos Silver in the first quarter valued at approximately $55,000. Barclays PLC bought a new position in shares of Gatos Silver in the third quarter valued at $60,000. International Assets Investment Management LLC bought a new stake in shares of Gatos Silver in the fourth quarter valued at about $64,000. Finally, Walleye Capital LLC acquired a new position in Gatos Silver in the second quarter valued at about $67,000. Institutional investors and hedge funds own 44.81% of the company's stock.

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.