Gatos Silver (NYSE:GATO) Stock Rating Upgraded by Canaccord Genuity Group

Gatos Silver (NYSE:GATO) was upgraded by investment analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report released on Tuesday, StockNewsAPI reports. The brokerage currently has a $12.50 target price on the stock, up from their prior target price of $6.50. Canaccord Genuity Group’s target price would suggest a potential upside of 33.26% from the company’s previous close.

Several other equities analysts also recently weighed in on GATO. Canaccord Genuity Group raised Gatos Silver from a “hold” rating to a “buy” rating and raised their price target for the stock from $6.50 to $12.50 in a research report on Tuesday. BMO Capital Markets boosted their price objective on shares of Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a research report on Thursday, April 11th. Finally, Royal Bank of Canada raised their target price on shares of Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 28th.

Gatos Silver Stock Performance

Gatos Silver stock opened at $9.38 on Tuesday. Gatos Silver has a one year low of $3.51 and a one year high of $10.96. The company has a market cap of $648.91 million, a P/E ratio of 49.37 and a beta of 2.21. The business has a fifty day moving average of $7.79 and a two-hundred day moving average of $6.53.

Gatos Silver (NYSE:GATO) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.12.

Institutional Investors Weigh In On Gatos Silver

A number of institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of Gatos Silver during the 4th quarter valued at $64,000. Tower Research Capital LLC TRC increased its stake in Gatos Silver by 17.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after acquiring an additional 1,690 shares during the last quarter. Barclays PLC acquired a new stake in Gatos Silver during the third quarter worth about $60,000. Jump Financial LLC purchased a new position in shares of Gatos Silver in the 4th quarter worth about $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Gatos Silver during the 4th quarter worth about $130,000. 44.81% of the stock is currently 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.