Gatos Silver, Inc. (NYSE:GATO) Receives $11.80 Average Target Price from Brokerages

Shares of Gatos Silver, Inc. (NYSE:GATO) have received a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $11.20.

GATO has been the topic of a number of recent analyst reports. Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a research report on Wednesday, July 10th. CIBC cut their target price on shares of Gatos Silver from $18.00 to $15.00 and set an “outperformer” rating for the company in a research report on Friday.

Institutional Investors Weigh In On Gatos Silver

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lingotto Investment Management LLP boosted its holdings in Gatos Silver by 1.6% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock valued at $36,578,000 after purchasing an additional 54,222 shares during the period. Sprott Inc. lifted its stake 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 buying an additional 291,052 shares during the period. Tidal Investments LLC bought a new stake in shares of Gatos Silver in the first quarter valued at about $17,397,000. Mackenzie Financial Corp increased its stake in Gatos Silver by 5.1% during the second quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock valued at $13,836,000 after acquiring an additional 64,758 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 acquiring an additional 80,889 shares in the last quarter. Institutional investors and hedge funds own 44.81% of the company’s stock.

Gatos Silver Price Performance

Gatos Silver stock opened at $11.50 on Friday. Gatos Silver has a one year low of $4.39 and a one year high of $14.45. The company’s fifty day moving average price is $12.11 and its two-hundred day moving average price is $10.47. The company has a market capitalization of $795.58 million, a price-to-earnings ratio of 52.27 and a beta of 2.09.

Gatos Silver (NYSE:GATO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02).

Gatos Silver Company Profile

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.