Gatos Silver, Inc. (NYSE:GATO) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Gatos Silver, Inc. (NYSE:GATO) have received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $11.40.

Several brokerages have recently issued reports on GATO. CIBC upgraded Gatos Silver from a “neutral” rating to a “sector outperform” rating and upped their price objective for the company from $11.25 to $16.00 in a research report on Wednesday, May 22nd. Cibc World Mkts upgraded Gatos Silver to a “strong-buy” rating in a research report on Wednesday, May 22nd. Royal Bank of Canada upped their price objective on Gatos Silver from $6.50 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday, March 28th. Canaccord Genuity Group upgraded 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. Finally, Canaccord Genuity Group upgraded 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.

Gatos Silver Price Performance

GATO opened at $12.25 on Friday. The business has a 50 day simple moving average of $10.11 and a 200-day simple moving average of $7.67. The stock has a market capitalization of $847.47 million, a P/E ratio of 55.68 and a beta of 2.10. Gatos Silver has a 12 month low of $3.51 and a 12 month high of $13.30.

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

Institutional Trading of Gatos Silver

Several hedge funds have recently made changes to their positions in GATO. Sprott Inc. increased its position in shares of Gatos Silver by 9.1% during the 4th quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock valued at $22,848,000 after purchasing an additional 291,052 shares during the period. Tidal Investments LLC acquired a new position in shares of Gatos Silver in the 1st quarter worth $17,397,000. Van ECK Associates Corp grew its holdings in shares of Gatos Silver by 17.3% in the 4th quarter. Van ECK Associates Corp now owns 2,027,870 shares of the company’s stock worth $13,262,000 after acquiring an additional 298,425 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 acquiring an additional 80,889 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Gatos Silver in the 4th quarter worth $182,000. Institutional investors 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.