Gatos Silver, Inc. (NYSE:GATO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Gatos Silver, Inc. (NYSE:GATO) have received an average recommendation of “Hold” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $12.90.

GATO has been the subject of several recent research reports. Canaccord Genuity Group reiterated a “hold” rating on shares of Gatos Silver in a report on Tuesday, October 22nd. CIBC raised their target price on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a report on Thursday, September 26th. Canaccord Genuity Group lowered Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada increased their price objective on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 10th.

Gatos Silver Stock Down 1.8 %

Gatos Silver stock opened at $15.00 on Tuesday. The firm has a fifty day moving average of $16.76 and a 200-day moving average of $14.03. Gatos Silver has a 52-week low of $5.42 and a 52-week high of $20.31. The firm has a market capitalization of $1.04 billion, a P/E ratio of 30.61 and a beta of 1.93.

Institutional Investors Weigh In On Gatos Silver

A number of hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Gatos Silver during the 3rd quarter valued at approximately $271,000. Barclays PLC raised its holdings in Gatos Silver by 1,332.9% in the third quarter. Barclays PLC now owns 10,116 shares of the company’s stock valued at $152,000 after acquiring an additional 9,410 shares in the last quarter. Geode Capital Management LLC boosted its stake in Gatos Silver by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 514,280 shares of the company’s stock valued at $7,759,000 after acquiring an additional 5,991 shares during the last quarter. Vestcor Inc acquired a new position in Gatos Silver during the 3rd quarter worth $398,000. Finally, K2 Principal Fund L.P. bought a new stake in shares of Gatos Silver in the 3rd quarter worth about $2,037,000. Institutional investors and hedge funds own 44.81% of the company’s stock.

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.