Gatos Silver (NYSE:GATO) Downgraded by Canaccord Genuity Group to “Hold”

Canaccord Genuity Group cut shares of Gatos Silver (NYSE:GATO) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports.

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

Gatos Silver Stock Down 2.2 %

Shares of GATO stock opened at $19.29 on Tuesday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 87.66 and a beta of 2.10. The company’s 50 day moving average is $14.98 and its 200 day moving average is $12.52. Gatos Silver has a 52-week low of $4.39 and a 52-week high of $20.22.

Gatos Silver (NYSE:GATO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02).

Hedge Funds Weigh In On Gatos Silver

Several large investors have recently made changes to their positions in GATO. Tidal Investments LLC acquired a new stake in Gatos Silver during the 1st quarter worth approximately $17,397,000. Dimensional Fund Advisors LP grew its position in shares of Gatos Silver by 18.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock valued at $9,853,000 after buying an additional 146,462 shares during the last quarter. U S Global Investors Inc. purchased a new position in shares of Gatos Silver in the 2nd quarter valued at $940,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Gatos Silver by 6.7% during 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 purchasing an additional 80,889 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Gatos Silver during the 2nd quarter worth $702,000. 44.81% of the stock is currently owned by institutional investors and hedge funds.

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.