Gatos Silver, Inc. (NYSE:GATO) Given Average Recommendation of “Hold” by Brokerages

Gatos Silver, Inc. (NYSE:GATO) has earned an average rating of “Hold” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $12.90.

GATO has been the subject of several research reports. Royal Bank of Canada boosted their price objective on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 10th. Canaccord Genuity Group downgraded Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Canaccord Genuity Group restated a “hold” rating on shares of Gatos Silver in a report on Tuesday, October 22nd. Finally, CIBC boosted their target price on Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a report on Thursday, September 26th.

Gatos Silver Stock Performance

Gatos Silver stock opened at $14.76 on Friday. Gatos Silver has a 1 year low of $5.42 and a 1 year high of $20.31. The firm has a 50 day moving average price of $15.89 and a 200 day moving average price of $14.24. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 30.12 and a beta of 1.93.

Institutional Investors Weigh In On Gatos Silver

A number of large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 purchasing an additional 6,994 shares in the last quarter. Barclays PLC grew its stake in shares of Gatos Silver by 1,332.9% during the third quarter. Barclays PLC now owns 10,116 shares of the company’s stock valued at $152,000 after acquiring an additional 9,410 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Gatos Silver during the second quarter worth about $112,000. Arizona State Retirement System acquired a new position in shares of Gatos Silver in the second quarter worth about $121,000. Finally, FORA Capital LLC acquired a new position in shares of Gatos Silver in the third quarter worth about $244,000. 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.