Royal Bank of Canada Increases Gatos Silver (NYSE:GATO) Price Target to $7.00

Gatos Silver (NYSE:GATO) had its target price boosted by equities researchers at Royal Bank of Canada from $6.50 to $7.00 in a research note issued on Thursday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential downside of 17.55% from the stock’s current price.

Separately, BMO Capital Markets restated a “market perform” rating and set a $6.25 price target on shares of Gatos Silver in a research note on Friday, December 1st.

Gatos Silver Stock Performance

GATO stock traded up $0.32 during mid-day trading on Thursday, reaching $8.49. 123,154 shares of the stock traded hands, compared to its average volume of 288,765. Gatos Silver has a one year low of $3.51 and a one year high of $8.82. The business has a 50-day moving average price of $6.74 and a two-hundred day moving average price of $6.03. The stock has a market capitalization of $587.34 million, a PE ratio of 44.26 and a beta of 2.15.

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

Institutional Investors Weigh In On Gatos Silver

Several hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Gatos Silver during the fourth quarter worth approximately $64,000. Tower Research Capital LLC TRC grew its holdings in shares of Gatos Silver by 11,226.4% during the third quarter. Tower Research Capital LLC TRC now owns 9,854 shares of the company’s stock worth $51,000 after buying an additional 9,767 shares in the last quarter. Barclays PLC acquired a new stake in shares of Gatos Silver in the third quarter valued at about $60,000. Ethic Inc. purchased a new position in shares of Gatos Silver in the first quarter worth about $55,000. Finally, UBS Group AG boosted its position in Gatos Silver by 5,094.0% during the third quarter. UBS Group AG now owns 13,816 shares of the company’s stock worth $72,000 after acquiring an additional 13,550 shares during the last quarter. 44.81% of the stock is owned by hedge funds and other institutional investors.

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.