Gatos Silver, Inc. (NYSE:GATO) Given Consensus Rating of “Hold” by Analysts

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

Several analysts have weighed in on the stock. Canaccord Genuity Group cut shares of Gatos Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. CIBC increased their price target on Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research report on Thursday, September 26th. Canaccord Genuity Group reiterated a “hold” rating on shares of Gatos Silver in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada increased their target price on Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 10th.

Gatos Silver Stock Performance

GATO opened at $16.24 on Friday. Gatos Silver has a twelve month low of $5.24 and a twelve month high of $20.31. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 33.13 and a beta of 2.05. The firm’s 50-day simple moving average is $16.27 and its 200-day simple moving average is $13.24.

Institutional Trading of Gatos Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GATO. Versor Investments LP acquired a new stake in Gatos Silver during the 3rd quarter worth $2,953,000. Alpha DNA Investment Management LLC bought a new stake in Gatos Silver in the second quarter valued at about $404,000. Dimensional Fund Advisors LP increased its holdings in Gatos Silver by 18.4% in the second 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. ClariVest Asset Management LLC lifted its stake in Gatos Silver by 23.0% in the second quarter. ClariVest Asset Management LLC now owns 248,312 shares of the company’s stock valued at $2,592,000 after buying an additional 46,407 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Gatos Silver by 5.1% during the second 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 during the last quarter. 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.