Canaccord Genuity Group Reaffirms “Hold” Rating for Gatos Silver (NYSE:GATO)

Canaccord Genuity Group reiterated their hold rating on shares of Gatos Silver (NYSE:GATO) in a research report released on Tuesday, MarketBeat.com reports.

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

Gatos Silver Price Performance

Shares of Gatos Silver stock opened at $19.71 on Tuesday. Gatos Silver has a 1 year low of $4.39 and a 1 year high of $20.22. The firm’s 50-day moving average is $14.84 and its 200 day moving average is $12.45. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 89.59 and a beta of 2.10.

Gatos Silver (NYSE:GATO) last posted its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02).

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Gatos Silver by 23,313.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock valued at $73,000 after acquiring an additional 6,994 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Gatos Silver during the 2nd quarter worth $112,000. Arizona State Retirement System purchased a new stake in shares of Gatos Silver during the 2nd quarter worth $121,000. American Century Companies Inc. boosted its position in Gatos Silver by 17.3% during the second quarter. American Century Companies Inc. now owns 84,930 shares of the company’s stock valued at $887,000 after purchasing an additional 12,522 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Gatos Silver in the second quarter valued at about $185,000. 44.81% of the stock is currently owned by hedge funds and other institutional investors.

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.