Gatos Silver (NYSE:GATO) Price Target Raised to $17.50

Gatos Silver (NYSE:GATO) had its price target lifted by CIBC from $15.00 to $17.50 in a report issued on Thursday, Benzinga reports. The firm currently has an outperformer rating on the stock.

GATO has been the subject of a number of other research reports. Royal Bank of Canada increased their target price on Gatos Silver from $11.00 to $13.00 and gave the company a sector perform rating in a report on Tuesday, September 10th. Cibc World Mkts upgraded Gatos Silver to a strong-buy rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $12.90.

Gatos Silver Price Performance

Shares of GATO stock opened at $15.90 on Thursday. Gatos Silver has a 1-year low of $4.39 and a 1-year high of $16.65. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 72.27 and a beta of 2.09. The stock has a 50 day simple moving average of $12.89 and a 200-day simple moving average of $11.34.

Gatos Silver (NYSE:GATO) last posted its quarterly earnings data 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sprott Inc. raised its holdings in shares of Gatos Silver by 9.1% during the 4th quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock worth $22,848,000 after acquiring an additional 291,052 shares during the period. Alpha DNA Investment Management LLC purchased a new position in Gatos Silver during the second quarter worth about $404,000. ClariVest Asset Management LLC boosted its holdings in Gatos Silver by 23.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 248,312 shares of the company’s stock valued at $2,592,000 after purchasing an additional 46,407 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Gatos Silver by 6.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock valued at $10,845,000 after buying an additional 80,889 shares during the period. Finally, Lingotto Investment Management LLP increased its holdings in shares of Gatos Silver by 1.6% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock worth $36,578,000 after buying an additional 54,222 shares during the last quarter. Institutional investors and hedge funds own 44.81% of the company’s stock.

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.