Gatos Silver, Inc. (NYSE:GATO) Receives $12.90 Average Price Target from Analysts

Gatos Silver, Inc. (NYSE:GATO) has been assigned an average recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $12.90.

GATO has been the topic of several research analyst reports. Canaccord Genuity Group reissued a “hold” rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. Canaccord Genuity Group downgraded Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, CIBC lifted their price objective on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a report on Thursday, September 26th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Alpine Associates Management Inc. purchased a new stake in Gatos Silver during the third quarter valued at approximately $20,018,000. Citigroup Inc. purchased a new stake in shares of Gatos Silver during the 3rd quarter valued at $10,676,000. Charles Schwab Investment Management Inc. boosted its position in shares of Gatos Silver by 905.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 274,860 shares of the company’s stock worth $4,145,000 after purchasing an additional 247,510 shares in the last quarter. Versor Investments LP purchased a new position in Gatos Silver during the 3rd quarter worth $2,953,000. Finally, Dimensional Fund Advisors LP grew its stake in Gatos Silver by 18.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock worth $9,853,000 after buying an additional 146,462 shares during the last quarter. 44.81% of the stock is currently owned by hedge funds and other institutional investors.

Gatos Silver Price Performance

Shares of GATO stock opened at $14.99 on Friday. The company has a market capitalization of $1.04 billion, a P/E ratio of 30.59 and a beta of 1.95. The company’s 50-day simple moving average is $15.53 and its two-hundred day simple moving average is $14.38. Gatos Silver has a one year low of $5.42 and a one year high of $20.31.

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.