Gatos Silver, Inc. (NYSE:GATO) Given Consensus Rating of “Moderate Buy” by Brokerages

Gatos Silver, Inc. (NYSE:GATO) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $11.80.

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

Institutional Investors Weigh In On Gatos Silver

Several hedge funds have recently modified their holdings of GATO. Tidal Investments LLC acquired a new stake in shares of Gatos Silver during the 1st quarter worth about $17,397,000. Van ECK Associates Corp boosted its stake in shares of Gatos Silver by 17.3% during the 4th 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 during the last quarter. Sprott Inc. boosted its stake in shares of Gatos Silver by 9.1% during the 4th 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 during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 acquiring an additional 146,462 shares during the last quarter. Finally, U S Global Investors Inc. acquired a new stake in shares of Gatos Silver in the second quarter worth approximately $940,000. 44.81% of the stock is owned by institutional investors and hedge funds.

Gatos Silver Price Performance

Shares of NYSE:GATO opened at $10.62 on Wednesday. The stock has a market cap of $734.70 million, a P/E ratio of 48.27 and a beta of 2.10. The firm has a fifty day moving average price of $11.59 and a 200 day moving average price of $9.66. Gatos Silver has a 1-year low of $4.01 and a 1-year high of $14.45.

Gatos Silver (NYSE:GATO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates 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.