Gatos Silver (NYSE:GATO) Rating Increased to Sector Outperform at CIBC

CIBC upgraded shares of Gatos Silver (NYSE:GATO) from a neutral rating to a sector outperform rating in a report released on Wednesday, Marketbeat Ratings reports. They currently have $16.00 price target on the stock, up from their prior price target of $11.25.

Several other brokerages also recently commented on GATO. Canaccord Genuity Group upgraded 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. Royal Bank of Canada upped their target price on Gatos Silver from $6.50 to $7.00 and gave the company a sector perform rating in a research note on Thursday, March 28th. BMO Capital Markets increased 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. Finally, Canaccord Genuity Group raised Gatos Silver from a hold rating to a buy rating and upped their price objective for the company from $6.50 to $12.50 in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $11.40.

Gatos Silver Stock Performance

Shares of Gatos Silver stock opened at $11.88 on Wednesday. The stock has a market cap of $821.86 million, a price-to-earnings ratio of 54.00 and a beta of 2.10. The stock has a 50 day moving average price of $9.78 and a 200-day moving average price of $7.49. Gatos Silver has a one year low of $3.51 and a one year high of $12.43.

Gatos Silver (NYSE:GATO) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter.

Institutional Trading of Gatos Silver

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its stake in Gatos Silver by 17.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after purchasing an additional 1,690 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Gatos Silver by 0.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,211,756 shares of the company’s stock worth $7,925,000 after buying an additional 9,132 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Gatos Silver during the 4th quarter worth $64,000. Barclays PLC purchased a new position in shares of Gatos Silver during the third quarter valued at $60,000. Finally, Van ECK Associates Corp raised its holdings in shares of Gatos Silver by 0.7% in the third quarter. Van ECK Associates Corp now owns 1,729,445 shares of the company’s stock valued at $8,959,000 after acquiring an additional 11,884 shares in the last quarter. Institutional investors own 44.81% of the company’s stock.

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.