Analysts Set Gatos Silver, Inc. (NYSE:GATO) Target Price at $11.80

Gatos Silver, Inc. (NYSE:GATO) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $11.80.

GATO has been the topic of a number of recent research reports. BMO Capital Markets upped their price target on shares of Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a research note on Thursday, April 11th. Cibc World Mkts raised Gatos Silver to a “strong-buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada increased their price target on shares of Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, March 28th. Canaccord Genuity Group raised shares of Gatos Silver from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Finally, Canaccord Genuity Group raised shares of Gatos Silver from a “hold” rating to a “buy” rating and upped their target price for the stock from $6.50 to $12.50 in a report on Tuesday, April 23rd.

Gatos Silver Stock Performance

GATO stock opened at $13.53 on Friday. Gatos Silver has a 52-week low of $3.90 and a 52-week high of $14.45. The business has a 50-day simple moving average of $11.51 and a two-hundred day simple moving average of $8.95. The company has a market capitalization of $936.01 million, a P/E ratio of 61.50 and a beta of 2.10.

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

Hedge Funds Weigh In On Gatos Silver

A number of institutional investors have recently made changes to their positions in GATO. International Assets Investment Management LLC purchased a new position in shares of Gatos Silver during the fourth quarter worth approximately $64,000. Tower Research Capital LLC TRC lifted 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 during the last quarter. Jump Financial LLC purchased a new stake in Gatos Silver during the fourth quarter valued at about $94,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Gatos Silver during the fourth quarter valued at about $130,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Gatos Silver during the first quarter valued at about $172,000. 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.