Gatos Silver, Inc. (NYSE:GATO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Gatos Silver, Inc. (NYSE:GATO) has received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $11.80.

Several brokerages have commented on GATO. Canaccord Genuity Group upgraded shares of Gatos Silver from a “hold” rating to a “buy” rating and boosted their price target for the stock from $6.50 to $12.50 in a research report on Tuesday, April 23rd. Cibc World Mkts raised Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. Canaccord Genuity Group raised Gatos Silver from a “hold” rating to a “buy” rating and lifted their price target for the stock from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Finally, CIBC lifted their price target on Gatos Silver from $16.00 to $18.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th.

Institutional Trading of Gatos Silver

Institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC acquired a new position in Gatos Silver in the first quarter worth $17,397,000. Van ECK Associates Corp boosted its stake in Gatos Silver by 17.3% in the fourth quarter. Van ECK Associates Corp now owns 2,027,870 shares of the company’s stock worth $13,262,000 after purchasing an additional 298,425 shares in the last quarter. Sprott Inc. boosted its stake in Gatos Silver by 9.1% in the fourth quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock worth $22,848,000 after purchasing an additional 291,052 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Gatos Silver by 18.4% in the second quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock worth $9,853,000 after purchasing an additional 146,462 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new position in Gatos Silver in the second quarter worth $940,000. 44.81% of the stock is currently owned by institutional investors.

Gatos Silver Stock Down 0.1 %

Shares of NYSE GATO opened at $10.62 on Wednesday. Gatos Silver has a fifty-two week low of $4.01 and a fifty-two week high of $14.45. The firm’s 50-day simple moving average is $11.59 and its 200 day simple moving average is $9.66. The stock has a market cap of $734.70 million, a P/E ratio of 48.27 and a beta of 2.10.

Gatos Silver (NYSE:GATO) last issued its quarterly 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.