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

Gatos Silver (NYSE:GATO) had its price target increased by stock analysts at CIBC from $16.00 to $18.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperformer” rating on the stock. CIBC’s target price points to a potential upside of 33.23% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets upped their price target on shares of Gatos Silver from $8.00 to $9.00 and gave the company 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 report on Wednesday, May 22nd. Canaccord Genuity Group upgraded shares of Gatos Silver from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.50 to $12.50 in a research report on Tuesday, April 23rd. Canaccord Genuity Group upgraded shares of Gatos Silver from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.50 to $12.50 in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada boosted 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 report on Thursday, March 28th. Two research 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.80.

Gatos Silver Stock Up 21.2 %

Gatos Silver stock traded up $2.36 during mid-day trading on Wednesday, reaching $13.51. 1,395,509 shares of the company’s stock traded hands, compared to its average volume of 419,006. The company has a market cap of $934.62 million, a price-to-earnings ratio of 61.41 and a beta of 2.10. The stock has a 50 day moving average of $11.07 and a two-hundred day moving average of $8.67. Gatos Silver has a 12-month low of $3.90 and a 12-month high of $13.82.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in Gatos Silver during the 4th quarter worth about $64,000. Tower Research Capital LLC TRC grew its holdings in Gatos Silver by 17.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after acquiring an additional 1,690 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Gatos Silver during the fourth quarter valued at about $94,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Gatos Silver during the fourth quarter valued at about $130,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Gatos Silver during the first quarter valued at about $172,000. 44.81% of the stock is currently owned by 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.