(NYSE:GATO) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 6,126 call options on the company. This is an increase of approximately 1,258% compared to the typical daily volume of 451 call options.
Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc boosted its stake in shares of Gatos Silver by 87.2% during the 2nd quarter. Legal & General Group Plc now owns 4,097 shares of the company’s stock worth $72,000 after acquiring an additional 1,909 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Gatos Silver by 217.3% during the 3rd quarter. Citigroup Inc. now owns 5,356 shares of the company’s stock worth $62,000 after acquiring an additional 3,668 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Gatos Silver by 47.0% during the 2nd quarter. Royal Bank of Canada now owns 5,817 shares of the company’s stock worth $101,000 after acquiring an additional 1,861 shares in the last quarter. Strs Ohio bought a new stake in shares of Gatos Silver during the 3rd quarter worth $91,000. Finally, Metropolitan Life Insurance Co NY boosted its stake in shares of Gatos Silver by 136,071.4% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 9,532 shares of the company’s stock worth $167,000 after acquiring an additional 9,525 shares in the last quarter. 54.51% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE GATO opened at $2.81 on Friday. The stock has a fifty day moving average price of $10.73 and a two-hundred day moving average price of $12.47. Gatos Silver has a 1 year low of $2.68 and a 1 year high of $24.00.
Gatos Silver (NYSE:GATO) last issued its quarterly earnings results on Monday, November 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.30).
GATO has been the topic of several analyst reports. Canaccord Genuity Group lowered shares of Gatos Silver from a “buy” rating to a “hold” rating and dropped their price target for the company from $15.50 to $4.00 in a research note on Thursday. Canaccord Genuity Group lowered Gatos Silver from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $15.50 to $4.00 in a report on Thursday. BMO Capital Markets decreased their price objective on Gatos Silver from C$12.50 to C$4.00 in a report on Thursday. The Goldman Sachs Group initiated coverage on Gatos Silver in a report on Tuesday, October 19th. They issued a “neutral” rating and a $14.00 price objective for the company. Finally, CIBC lowered Gatos Silver from a “sector outperform” rating to a “neutral” rating and decreased their price objective for the stock from $17.00 to $7.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.93.
Gatos Silver Company Profile
Gatos Silver, Inc engages in the exploration, development, and production of precious metals. It primarily explores for silver ores. The company also explores for zinc, lead, copper, and gold ores. Its flagship asset is the Cerro Los Gatos mine located at the Los Gatos District in Chihuahua state, Mexico.
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