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

Gatos Silver, Inc. (NYSE:GATO) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are 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 twelve-month target price among brokers that have issued ratings on the stock in the last year is $12.90.

Several equities research analysts have weighed in on GATO shares. Canaccord Genuity Group cut shares of Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. CIBC raised their price objective on shares of Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research report on Thursday, September 26th. Canaccord Genuity Group restated a “hold” rating on shares of Gatos Silver in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada raised 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 report on Tuesday, September 10th.

Institutional Investors Weigh In On Gatos Silver

Several institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Gatos Silver by 23,313.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock valued at $73,000 after purchasing an additional 6,994 shares in the last quarter. Barclays PLC increased its stake in Gatos Silver by 1,332.9% in the third quarter. Barclays PLC now owns 10,116 shares of the company’s stock valued at $152,000 after purchasing an additional 9,410 shares in the last quarter. XTX Topco Ltd bought a new stake in Gatos Silver in the second quarter valued at approximately $112,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Gatos Silver by 53.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,807 shares of the company’s stock valued at $163,000 after purchasing an additional 3,783 shares in the last quarter. Finally, Arizona State Retirement System bought a new stake in Gatos Silver in the second quarter valued at approximately $121,000. Institutional investors and hedge funds own 44.81% of the company’s stock.

Gatos Silver Stock Down 1.9 %

Shares of GATO stock opened at $15.90 on Friday. Gatos Silver has a 12-month low of $5.42 and a 12-month high of $20.31. The company has a market capitalization of $1.10 billion, a P/E ratio of 32.45 and a beta of 2.05. The firm has a 50-day moving average price of $16.44 and a 200 day moving average price of $13.35.

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.