Gatos Silver (NYSE:GATO) PT Lowered to $15.00 at CIBC

Gatos Silver (NYSE:GATO) had its price target reduced by CIBC from $18.00 to $15.00 in a report issued on Friday, Benzinga reports. CIBC currently has an outperformer rating on the stock.

Separately, Cibc World Mkts upgraded shares of Gatos Silver to a strong-buy rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Gatos Silver currently has a consensus rating of Moderate Buy and a consensus price target of $11.20.

Gatos Silver Price Performance

NYSE:GATO opened at $11.61 on Friday. The firm has a market capitalization of $803.19 million, a price-to-earnings ratio of 52.77 and a beta of 2.10. The business has a 50 day simple moving average of $12.14 and a 200-day simple moving average of $10.55. Gatos Silver has a 1 year low of $4.39 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02).

Institutional Trading of Gatos Silver

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lingotto Investment Management LLP increased its position in shares of Gatos Silver by 1.6% during the second quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock worth $36,578,000 after acquiring an additional 54,222 shares during the period. Sprott Inc. increased its holdings in 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 period. Tidal Investments LLC bought a new stake in Gatos Silver during the 1st quarter valued at $17,397,000. Mackenzie Financial Corp raised its position in Gatos Silver by 5.1% during the 2nd quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock valued at $13,836,000 after purchasing an additional 64,758 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Gatos Silver by 6.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock worth $10,845,000 after buying an additional 80,889 shares during the period. 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.