CIBC Raises Gatos Silver (NYSE:GATO) Price Target to $18.00

Gatos Silver (NYSE:GATO) had its price objective hoisted by CIBC from $16.00 to $18.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an outperformer rating on the stock.

Several other research firms also recently weighed in on GATO. Canaccord Genuity Group raised Gatos Silver from a hold rating to a buy rating and increased their price objective for the company from $6.50 to $12.50 in a report on Tuesday, April 23rd. Royal Bank of Canada increased their price target on Gatos Silver from $6.50 to $7.00 and gave the stock a sector perform rating in a report on Thursday, March 28th. Cibc World Mkts raised Gatos Silver to a strong-buy rating in a report on Wednesday, May 22nd. Canaccord Genuity Group raised Gatos Silver from a hold rating to a buy rating and increased their price target for the stock from $6.50 to $12.50 in a report on Tuesday, April 23rd. Finally, BMO Capital Markets increased their price target on Gatos Silver from $8.00 to $9.00 and gave the stock a market perform rating in a report on Thursday, April 11th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Gatos Silver has a consensus rating of Moderate Buy and an average target price of $11.80.

Gatos Silver Trading Down 0.8 %

GATO stock opened at $13.63 on Wednesday. The company has a market capitalization of $942.92 million, a P/E ratio of 61.95 and a beta of 2.10. Gatos Silver has a twelve month low of $3.90 and a twelve month high of $13.99. The business has a 50 day simple moving average of $11.30 and a 200-day simple moving average of $8.79.

Gatos Silver (NYSE:GATO) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share for the quarter.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GATO. International Assets Investment Management LLC purchased a new position in Gatos Silver in the fourth quarter worth $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 in the last quarter. Jump Financial LLC purchased a new position in Gatos Silver in the fourth quarter worth $94,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Gatos Silver in the fourth quarter worth $130,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Gatos Silver in the first quarter valued at $172,000. Hedge funds and other 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.