Gatos Silver, Inc. (NYSE:GATO) Receives $12.90 Consensus PT from Analysts

Shares of Gatos Silver, Inc. (NYSE:GATO) have been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $12.90.

A number of equities research analysts recently commented on GATO shares. Canaccord Genuity Group restated a “hold” rating on shares of Gatos Silver in a report on Tuesday, October 22nd. Canaccord Genuity Group downgraded shares of Gatos Silver from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Royal Bank of Canada boosted their price target on Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 10th. Finally, CIBC increased their price target 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Gatos Silver by 23,313.3% in 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 during the period. Barclays PLC boosted its holdings in Gatos Silver by 1,332.9% during the 3rd quarter. Barclays PLC now owns 10,116 shares of the company’s stock worth $152,000 after acquiring an additional 9,410 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Gatos Silver in the 2nd quarter worth $112,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Gatos Silver by 53.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,807 shares of the company’s stock valued at $163,000 after purchasing an additional 3,783 shares during the last quarter. Finally, Arizona State Retirement System bought a new position in shares of Gatos Silver during the second quarter valued at about $121,000. Institutional investors and hedge funds own 44.81% of the company’s stock.

Gatos Silver Price Performance

Shares of NYSE:GATO opened at $16.79 on Friday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 34.27 and a beta of 2.05. The firm’s 50 day simple moving average is $16.64 and its 200 day simple moving average is $13.45. Gatos Silver has a fifty-two week low of $5.42 and a fifty-two week high of $20.31.

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.