CIBC Raises Gatos Silver (NYSE:GATO) Price Target to $17.50

Gatos Silver (NYSE:GATO) had its price target increased by equities research analysts at CIBC from $15.00 to $17.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperformer” rating on the stock. CIBC’s price objective suggests a potential upside of 5.55% from the company’s current price.

Other research analysts also recently issued research reports about the company. Cibc World Mkts upgraded Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. Royal Bank of Canada boosted their price objective on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 10th. Two investment 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.90.

Gatos Silver Price Performance

NYSE:GATO traded up $0.47 on Thursday, reaching $16.58. 550,042 shares of the company’s stock were exchanged, compared to its average volume of 506,653. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 75.36 and a beta of 2.09. The stock has a fifty day simple moving average of $12.76 and a 200-day simple moving average of $11.22. Gatos Silver has a 52 week low of $4.39 and a 52 week high of $16.63.

Gatos Silver (NYSE:GATO) last released its quarterly earnings data 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).

Hedge Funds Weigh In On Gatos Silver

Several institutional investors have recently modified their holdings of 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. Jump Financial LLC purchased a new position in shares of Gatos Silver in the fourth quarter valued at about $94,000. XTX Topco Ltd bought a new position in shares of Gatos Silver during the second quarter valued at about $112,000. Arizona State Retirement System purchased a new stake in shares of Gatos Silver during the second quarter worth about $121,000. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Gatos Silver in the first quarter worth about $172,000. 44.81% of the stock is currently owned by institutional investors.

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.