Canaccord Genuity Group Lowers Gatos Silver (NYSE:GATO) to Hold

Canaccord Genuity Group downgraded shares of Gatos Silver (NYSE:GATO) from a buy rating to a hold rating in a report published on Tuesday, Marketbeat Ratings reports.

Other equities analysts have also recently issued reports about the company. CIBC raised their price objective on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research note on Thursday, September 26th. Cibc World Mkts raised Gatos Silver to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada lifted their target price on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.90.

Gatos Silver Trading Down 2.2 %

GATO stock opened at $19.29 on Tuesday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 87.66 and a beta of 2.10. Gatos Silver has a 12 month low of $4.39 and a 12 month high of $20.22. The firm has a 50-day moving average price of $14.98 and a 200-day moving average price of $12.52.

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

Institutional Trading of Gatos Silver

A number of hedge funds have recently made changes to their positions in GATO. Lingotto Investment Management LLP lifted its position in Gatos Silver by 1.6% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock valued at $36,578,000 after acquiring an additional 54,222 shares in the last quarter. Tidal Investments LLC purchased a new stake in Gatos Silver in the 1st quarter worth $17,397,000. Mackenzie Financial Corp increased its stake in Gatos Silver by 5.1% in the 2nd quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock worth $13,836,000 after buying an additional 64,758 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Gatos Silver by 18.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock valued at $9,853,000 after purchasing an additional 146,462 shares during the last quarter. 44.81% of the stock is 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.