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

Shares of Gatos Silver, Inc. (NYSE:GATO) have been given a consensus recommendation of “Hold” by the five ratings firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $12.90.

Several equities research analysts have issued reports on the company. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Gatos Silver in a research report on Tuesday, October 22nd. Canaccord Genuity Group cut shares of Gatos Silver from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. CIBC raised their price objective on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada upped their target price on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 10th.

Institutional Investors Weigh In On Gatos Silver

A number of large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Gatos Silver by 23,313.3% during the second 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 in the last quarter. XTX Topco Ltd bought a new stake in shares of Gatos Silver during the 2nd quarter worth approximately $112,000. Arizona State Retirement System acquired a new stake in shares of Gatos Silver during the 2nd quarter worth approximately $121,000. Barclays PLC increased its stake in Gatos Silver by 1,332.9% in the third quarter. Barclays PLC now owns 10,116 shares of the company’s stock valued at $152,000 after acquiring an additional 9,410 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Gatos Silver during the second quarter valued at approximately $185,000. Institutional investors and hedge funds own 44.81% of the company’s stock.

Gatos Silver Trading Down 2.6 %

Shares of NYSE GATO opened at $15.27 on Tuesday. The company has a market capitalization of $1.06 billion, a P/E ratio of 31.16 and a beta of 1.93. Gatos Silver has a 12 month low of $5.42 and a 12 month high of $20.31. The stock has a 50 day moving average of $16.77 and a 200-day moving average of $14.00.

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.