Gatos Silver, Inc. (NYSE:GATO – Get Free Report) shares gapped up before the market opened on Wednesday after Cibc World Mkts upgraded the stock to a strong-buy rating. The stock had previously closed at $11.15, but opened at $11.44. Gatos Silver shares last traded at $12.02, with a volume of 38,767 shares.
A number of other research firms have also recently weighed in on GATO. BMO Capital Markets upped their price target on Gatos Silver from $8.00 to $9.00 and gave the stock a “market perform” rating in a report on Thursday, April 11th. Royal Bank of Canada boosted their price objective on shares of Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 28th. CIBC raised their target price on shares of Gatos Silver from $16.00 to $18.00 and gave the company an “outperformer” rating in a report on Wednesday. Canaccord Genuity Group raised shares of Gatos Silver from a “hold” rating to a “buy” rating and upped their price target for the company from $6.50 to $12.50 in a report on Tuesday, April 23rd. Finally, Canaccord Genuity Group upgraded shares of Gatos Silver from a “hold” rating to a “buy” rating and increased their price target for the company from $6.50 to $12.50 in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Gatos Silver presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.
View Our Latest Research Report on GATO
Institutional Investors Weigh In On Gatos Silver
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC purchased a new stake in Gatos Silver in the 1st quarter worth approximately $17,397,000. Van ECK Associates Corp increased its stake in Gatos Silver by 17.3% in the fourth quarter. Van ECK Associates Corp now owns 2,027,870 shares of the company’s stock valued at $13,262,000 after purchasing an additional 298,425 shares during the last quarter. Sprott Inc. lifted its position 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 period. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 buying an additional 80,889 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Gatos Silver in the 4th quarter valued at about $182,000. 44.81% of the stock is currently owned by hedge funds and other institutional investors.
Gatos Silver Trading Up 1.6 %
The company has a market cap of $949.84 million, a price-to-earnings ratio of 62.41 and a beta of 2.10. The stock’s 50 day moving average price is $11.23 and its 200 day moving average price is $8.74.
Gatos Silver (NYSE:GATO – Get Free Report) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter.
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.
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