Gatos Silver (NYSE:GATO) Sets New 12-Month High Following Analyst Upgrade

Gatos Silver, Inc. (NYSE:GATOGet Free Report)’s share price hit a new 52-week high during trading on Thursday after Cibc World Mkts upgraded the stock to a strong-buy rating. The company traded as high as $13.92 and last traded at $13.49, with a volume of 93436 shares traded. The stock had previously closed at $13.51.

A number of other research analysts have also recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a research report on Thursday, April 11th. Royal Bank of Canada upped their price target on shares of Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 28th. CIBC increased their target price on shares of Gatos Silver from $16.00 to $18.00 and gave the company an “outperformer” rating in a research report on Wednesday. Canaccord Genuity Group raised shares of Gatos Silver from a “hold” rating to a “buy” rating and upped their price target for the company from $6.50 to $12.50 in a report on Tuesday, April 23rd. Finally, Canaccord Genuity Group raised shares of Gatos Silver from a “hold” rating to a “buy” rating and upped their price target for the company from $6.50 to $12.50 in a report on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.80.

Check Out Our Latest Research Report on Gatos Silver

Institutional Investors Weigh In On Gatos Silver

Several hedge funds have recently modified their holdings of GATO. International Assets Investment Management LLC acquired a new stake in shares of Gatos Silver in the fourth quarter valued at $64,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Gatos Silver by 0.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,211,756 shares of the company’s stock valued at $7,925,000 after buying an additional 9,132 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Gatos Silver by 17.3% in the fourth quarter. Van ECK Associates Corp now owns 2,027,870 shares of the company’s stock valued at $13,262,000 after buying an additional 298,425 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Gatos Silver in the fourth quarter valued at $94,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Gatos Silver by 17.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock valued at $75,000 after buying an additional 1,690 shares in the last quarter. 44.81% of the stock is owned by institutional investors.

Gatos Silver Price Performance

The stock has a 50 day moving average price of $11.30 and a two-hundred day moving average price of $8.79. The company has a market capitalization of $942.92 million, a price-to-earnings ratio of 61.95 and a beta of 2.10.

Gatos Silver (NYSE:GATOGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter.

Gatos Silver Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Gatos Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gatos Silver and related companies with MarketBeat.com's FREE daily email newsletter.