Gatos Silver’s (GATO) “Hold” Rating Reaffirmed at Canaccord Genuity Group

Gatos Silver (NYSE:GATO)‘s stock had its “hold” rating reissued by analysts at Canaccord Genuity Group in a report issued on Tuesday, Benzinga reports.

A number of other brokerages have also recently commented on GATO. Royal Bank of Canada lifted their target price on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a report on Wednesday, July 10th. CIBC lifted their target price on shares of Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a report on Thursday, September 26th. Finally, Canaccord Genuity Group cut shares of Gatos Silver from a “buy” rating to a “hold” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.90.

Gatos Silver Trading Up 4.3 %

GATO stock opened at $19.26 on Tuesday. Gatos Silver has a twelve month low of $4.39 and a twelve month high of $19.75. The company’s 50 day moving average is $14.37 and its two-hundred day moving average is $12.27. The stock has a market cap of $1.33 billion, a P/E ratio of 87.55 and a beta of 2.10.

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

Institutional Investors Weigh In On Gatos Silver

Several institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Gatos Silver by 23,313.3% during the second 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 during the period. XTX Topco Ltd acquired a new position in shares of Gatos Silver in the 2nd quarter valued at $112,000. Arizona State Retirement System purchased a new stake in Gatos Silver in the 2nd quarter worth about $121,000. Squarepoint Ops LLC purchased a new stake in Gatos Silver in the 2nd quarter worth about $185,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Gatos Silver in the 1st quarter worth about $196,000. 44.81% of the stock is owned by institutional investors and hedge funds.

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.