Gatos Silver, Inc. (NYSE:GATO) Receives Consensus Rating of “Hold” from Brokerages

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

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GATO. Lingotto Investment Management LLP lifted its position in shares of Gatos Silver by 1.6% during the second quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock worth $36,578,000 after purchasing an additional 54,222 shares during the last quarter. Tidal Investments LLC purchased a new stake in Gatos Silver in the 1st quarter valued at about $17,397,000. Mackenzie Financial Corp grew 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 acquiring an additional 64,758 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Gatos Silver by 6.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock worth $10,845,000 after acquiring an additional 80,889 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Gatos Silver by 18.4% during the second quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock valued at $9,853,000 after acquiring an additional 146,462 shares in the last quarter. Institutional investors own 44.81% of the company’s stock.

Gatos Silver Trading Down 2.2 %

Shares of NYSE GATO opened at $19.29 on Monday. The firm has a 50 day moving average of $14.84 and a 200 day moving average of $12.45. Gatos Silver has a 12-month low of $4.39 and a 12-month high of $20.22. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 87.66 and a beta of 2.10.

Gatos Silver (NYSE:GATO) last released 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).

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.