Gatos Silver (NYSE:GATO) Price Target Increased to $18.00 by Analysts at CIBC

Gatos Silver (NYSE:GATO) had its price objective raised by CIBC from $16.00 to $18.00 in a report released on Wednesday morning, Benzinga reports. CIBC currently has an outperformer rating on the stock.

Several other equities research analysts have also commented on GATO. BMO Capital Markets lifted their price target on shares of Gatos Silver from $8.00 to $9.00 and gave the stock a market perform rating in a research note on Thursday, April 11th. Cibc World Mkts upgraded shares of Gatos Silver to a strong-buy rating in a research note on Wednesday, May 22nd. Royal Bank of Canada lifted their price objective on shares of Gatos Silver from $6.50 to $7.00 and gave the company a sector perform rating in a research note on Thursday, March 28th. Canaccord Genuity Group upgraded shares of Gatos Silver from a hold rating to a buy rating and lifted their price objective for the company from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Finally, Canaccord Genuity Group upgraded shares of Gatos Silver from a hold rating to a buy rating and lifted their price objective for the company from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $11.80.

Gatos Silver Trading Up 21.1 %

Shares of GATO opened at $13.50 on Wednesday. The firm’s fifty day simple moving average is $11.15 and its 200-day simple moving average is $8.70. Gatos Silver has a twelve month low of $3.90 and a twelve month high of $13.82. The firm has a market capitalization of $933.94 million, a price-to-earnings ratio of 61.36 and a beta of 2.10.

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

Institutional Trading of Gatos Silver

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sprott Inc. boosted its holdings in shares of Gatos Silver by 9.1% in the fourth quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock valued at $22,848,000 after acquiring an additional 291,052 shares in the last quarter. Tidal Investments LLC purchased a new stake in Gatos Silver during the first quarter worth about $17,397,000. Van ECK Associates Corp boosted its holdings in Gatos Silver by 17.3% during the fourth quarter. Van ECK Associates Corp now owns 2,027,870 shares of the company’s stock worth $13,262,000 after buying an additional 298,425 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Gatos Silver by 6.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock worth $10,845,000 after buying an additional 80,889 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Gatos Silver during the fourth quarter worth about $182,000. Hedge funds and other institutional investors 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.