Gatos Silver (NYSE:GATO) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Gatos Silver (NYSE:GATO) from a hold rating to a buy rating in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $12.50 target price on the stock, up from their previous target price of $6.50.

GATO has been the topic of several other research reports. BMO Capital Markets raised their target price on shares of Gatos Silver from $8.00 to $9.00 and gave the stock a market perform rating in a report on Thursday, April 11th. 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 report on Thursday, March 28th. Finally, Canaccord Genuity Group upgraded shares of Gatos Silver from a hold rating to a buy rating and raised their target price for the stock from $6.50 to $12.50 in a report on Tuesday.

Gatos Silver Stock Up 2.3 %

NYSE:GATO opened at $10.14 on Tuesday. The company’s 50 day moving average price is $8.04 and its 200-day moving average price is $6.61. Gatos Silver has a 52 week low of $3.51 and a 52 week high of $10.96. The stock has a market cap of $701.49 million, a price-to-earnings ratio of 53.37 and a beta of 2.21.

Gatos Silver (NYSE:GATO) last issued its 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 Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in Gatos Silver in the fourth quarter worth approximately $64,000. Tower Research Capital LLC TRC raised its position in Gatos Silver by 17.2% in 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 period. Barclays PLC bought a new stake in shares of Gatos Silver during the 3rd quarter valued at $60,000. Jump Financial LLC bought a new stake in shares of Gatos Silver during the 4th quarter valued at $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Gatos Silver during the 4th quarter valued at $130,000. 44.81% of the stock is currently owned by 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.