Gatos Silver (NYSE:GATO) Cut to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group cut shares of Gatos Silver (NYSE:GATO) from a buy rating to a hold rating in a research report released on Tuesday, Marketbeat Ratings reports.

GATO has been the subject of several other reports. Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. CIBC raised their target price on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada upped their price target on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.90.

Gatos Silver Trading Up 0.1 %

Shares of NYSE GATO opened at $19.71 on Tuesday. Gatos Silver has a 12-month low of $4.39 and a 12-month high of $20.22. The firm’s 50-day moving average price is $14.69 and its 200-day moving average price is $12.40. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 89.59 and a beta of 2.10.

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

Institutional Trading of Gatos Silver

A number of large investors have recently made changes to their positions in GATO. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Gatos Silver by 23,313.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock worth $73,000 after buying an additional 6,994 shares during the period. XTX Topco Ltd purchased a new position in shares of Gatos Silver during the second quarter worth approximately $112,000. Arizona State Retirement System purchased a new position in shares of Gatos Silver during the second quarter worth approximately $121,000. American Century Companies Inc. raised its stake in shares of Gatos Silver by 17.3% during the second quarter. American Century Companies Inc. now owns 84,930 shares of the company’s stock valued at $887,000 after acquiring an additional 12,522 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Gatos Silver in the second quarter valued at approximately $185,000. 44.81% of the stock is owned by hedge funds and other institutional investors.

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.