Gatos Silver (NYSE:GATO) Upgraded to Buy by Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Gatos Silver (NYSE:GATO) from a hold rating to a buy rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. They currently have $12.50 target price on the stock, up from their prior target price of $6.50.

Other analysts have also recently issued reports about the company. BMO Capital Markets boosted their price objective on Gatos Silver from $8.00 to $9.00 and gave the company a market perform rating in a research report on Thursday, April 11th. Royal Bank of Canada boosted their price objective on Gatos Silver from $6.50 to $7.00 and gave the company a sector perform rating in a research report on Thursday, March 28th.

Gatos Silver Stock Performance

GATO opened at $10.24 on Tuesday. The business has a 50 day moving average price of $8.12 and a 200 day moving average price of $6.65. Gatos Silver has a twelve month low of $3.51 and a twelve month high of $10.96. The firm has a market cap of $708.41 million, a P/E ratio of 53.89 and a beta of 2.21.

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

Institutional Trading of Gatos Silver

Several large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Gatos Silver during the fourth quarter valued at $182,000. Sprott Inc. lifted its stake in shares of Gatos Silver by 9.1% during the fourth quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock valued at $22,848,000 after acquiring an additional 291,052 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Gatos Silver during the fourth quarter valued at $130,000. Tower Research Capital LLC TRC lifted its stake in shares of Gatos Silver by 17.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock valued at $75,000 after acquiring an additional 1,690 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Gatos Silver during the fourth quarter valued at $94,000. Institutional investors own 44.81% of the company’s stock.

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.