Gatos Silver, Inc. (NYSE:GATO) Receives $11.80 Average PT from Analysts

Gatos Silver, Inc. (NYSE:GATO) has been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $11.20.

Several brokerages recently commented on GATO. CIBC decreased their price target on Gatos Silver from $18.00 to $15.00 and set an “outperformer” rating on the stock in a research note on Friday. Cibc World Mkts upgraded shares of Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th.

Hedge Funds Weigh In On Gatos Silver

Several institutional investors have recently bought and sold shares of GATO. Sprott Inc. lifted its position in shares of 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 purchasing an additional 291,052 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Gatos Silver by 6.7% during 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 in the last quarter. Jump Financial LLC acquired a new stake in shares of Gatos Silver in the 4th quarter valued at $94,000. Virtu Financial LLC bought a new stake in shares of Gatos Silver during the fourth quarter worth $182,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Gatos Silver during the first quarter worth $196,000. Institutional investors own 44.81% of the company’s stock.

Gatos Silver Stock Performance

Shares of GATO stock opened at $11.50 on Friday. The firm has a fifty day moving average of $12.11 and a 200-day moving average of $10.47. The stock has a market cap of $795.58 million, a price-to-earnings ratio of 52.27 and a beta of 2.09. Gatos Silver has a 52-week low of $4.39 and a 52-week high of $14.45.

Gatos Silver (NYSE:GATO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02).

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.