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

Shares of Gatos Silver, Inc. (NYSE:GATO) have been given an average recommendation of “Hold” by the five ratings firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.90.

GATO has been the topic of a number of research analyst reports. Canaccord Genuity Group reissued a “hold” rating on shares of Gatos Silver in a report on Tuesday, October 22nd. Cibc World Mkts upgraded shares of Gatos Silver to a “strong-buy” rating in a research report on Wednesday, July 10th. Canaccord Genuity Group cut shares of Gatos Silver from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Royal Bank of Canada boosted their target price on Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 10th. Finally, CIBC increased their price target on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research note on Thursday, September 26th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Alpha DNA Investment Management LLC bought a new stake in shares of Gatos Silver during the 2nd quarter worth $404,000. Dimensional Fund Advisors LP boosted its position in shares of Gatos Silver by 18.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock valued at $9,853,000 after purchasing an additional 146,462 shares during the period. ClariVest Asset Management LLC boosted its position in shares of Gatos Silver by 23.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 248,312 shares of the company’s stock valued at $2,592,000 after purchasing an additional 46,407 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 purchasing an additional 80,889 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Gatos Silver by 5.1% during the 2nd quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock worth $13,836,000 after buying an additional 64,758 shares during the period. Institutional investors own 44.81% of the company’s stock.

Gatos Silver Trading Down 2.2 %

Shares of NYSE:GATO opened at $19.28 on Monday. The firm’s 50 day moving average is $14.98 and its two-hundred day moving average is $12.56. The firm has a market capitalization of $1.34 billion, a P/E ratio of 48.20 and a beta of 2.10. Gatos Silver has a 52 week low of $4.39 and a 52 week high of $20.22.

Gatos Silver (NYSE:GATO) last posted its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02).

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.