Gatos Silver (NYSE:GATO) Stock Rating Upgraded by Cibc World Mkts

Gatos Silver (NYSE:GATO) was upgraded by equities researchers at Cibc World Mkts to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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

Gatos Silver Stock Up 1.6 %

NYSE GATO opened at $13.73 on Wednesday. The stock has a market capitalization of $949.84 million, a PE ratio of 62.41 and a beta of 2.10. The company has a 50 day moving average price of $11.23 and a two-hundred day moving average price of $8.74. Gatos Silver has a 12-month low of $3.90 and a 12-month high of $13.98.

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

Institutional Investors Weigh In On Gatos Silver

A number of institutional investors have recently bought and sold shares of the business. Sprott Inc. boosted its stake in Gatos Silver by 9.1% during the fourth quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock worth $22,848,000 after buying an additional 291,052 shares in the last quarter. Tidal Investments LLC acquired a new stake in Gatos Silver during the first quarter worth $17,397,000. Van ECK Associates Corp boosted its stake 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 stake 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 acquired a new stake in Gatos Silver during the fourth quarter worth $182,000. 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.