Gatos Silver, Inc. (NYSE:GATO) Receives $12.90 Average Price Target from Analysts

Shares of Gatos Silver, Inc. (NYSE:GATO) have received a consensus recommendation of “Hold” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $12.90.

Several analysts have recently commented on GATO shares. Canaccord Genuity Group reiterated a “hold” rating on shares of Gatos Silver in a report on Tuesday. Royal Bank of Canada increased their target price on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. Canaccord Genuity Group lowered shares of Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday. Cibc World Mkts upgraded shares of Gatos Silver to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, CIBC increased their target price on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research report on Thursday, September 26th.

Gatos Silver Price Performance

Shares of GATO stock opened at $19.69 on Monday. The firm has a 50-day moving average of $14.53 and a 200-day moving average of $12.35. The company has a market cap of $1.36 billion, a P/E ratio of 89.50 and a beta of 2.10. Gatos Silver has a one year low of $4.39 and a one year high of $20.22.

Gatos Silver (NYSE:GATO) last announced its 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).

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Gatos Silver by 23,313.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock worth $73,000 after buying an additional 6,994 shares during the period. XTX Topco Ltd purchased a new position in shares of Gatos Silver in the second quarter worth $112,000. Arizona State Retirement System purchased a new position in shares of Gatos Silver in the second quarter worth $121,000. American Century Companies Inc. increased its stake in shares of Gatos Silver by 17.3% in the second quarter. American Century Companies Inc. now owns 84,930 shares of the company’s stock worth $887,000 after buying an additional 12,522 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in Gatos Silver in the second quarter valued at $185,000. 44.81% of the stock is owned by hedge funds and other 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.