Gatos Silver (NYSE:GATO) Upgraded to Strong-Buy by Cibc World Mkts

Cibc World Mkts upgraded shares of Gatos Silver (NYSE:GATO) to a strong-buy rating in a research report released on Wednesday, Zacks.com reports.

GATO has been the topic of several other reports. BMO Capital Markets increased their target price on Gatos Silver from $8.00 to $9.00 and gave the company a market perform rating in a research note on Thursday, April 11th. Canaccord Genuity Group upgraded Gatos Silver from a hold rating to a buy rating and increased their target price for the company from $6.50 to $12.50 in a research note on Tuesday, April 23rd. CIBC upgraded Gatos Silver from a neutral rating to a sector outperform rating and increased their target price for the company from $11.25 to $16.00 in a research note on Wednesday. Canaccord Genuity Group upgraded Gatos Silver from a hold rating to a buy rating and increased their target price for the company from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada increased their target price on Gatos Silver from $6.50 to $7.00 and gave the company a sector perform rating in a research note on Thursday, March 28th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $11.40.

Gatos Silver Stock Down 1.7 %

GATO stock opened at $11.54 on Wednesday. Gatos Silver has a twelve month low of $3.51 and a twelve month high of $12.43. The firm has a market cap of $798.34 million, a PE ratio of 52.45 and a beta of 2.10. The business has a 50 day moving average of $9.70 and a 200 day moving average of $7.42.

Gatos Silver (NYSE:GATO) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share for the quarter.

Hedge Funds Weigh In On Gatos Silver

A number of institutional investors and hedge funds have recently modified their holdings of GATO. Tower Research Capital LLC TRC raised its holdings in Gatos Silver by 17.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after purchasing an additional 1,690 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Gatos Silver by 0.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,211,756 shares of the company’s stock worth $7,925,000 after purchasing an additional 9,132 shares during the period. International Assets Investment Management LLC bought a new position in Gatos Silver in the 4th quarter worth $64,000. Barclays PLC bought a new position in Gatos Silver in the 3rd quarter worth $60,000. Finally, Van ECK Associates Corp raised its holdings in Gatos Silver by 0.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,729,445 shares of the company’s stock worth $8,959,000 after purchasing an additional 11,884 shares during the period. 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.