Gatos Silver (NYSE:GATO) Price Target Cut to $15.00 by Analysts at CIBC

Gatos Silver (NYSE:GATO) had its price target decreased by CIBC from $18.00 to $15.00 in a research report report published on Friday, Benzinga reports. CIBC currently has an outperformer rating on the stock.

Separately, Cibc World Mkts upgraded Gatos Silver to a strong-buy rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $11.20.

Gatos Silver Price Performance

GATO opened at $11.61 on Friday. The company has a 50 day simple moving average of $12.14 and a two-hundred day simple moving average of $10.55. The firm has a market cap of $803.19 million, a P/E ratio of 52.77 and a beta of 2.10. Gatos Silver has a 1-year low of $4.39 and a 1-year high of $14.45.

Gatos Silver (NYSE:GATO) last released its earnings results 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

Large investors have recently made changes to their positions in the company. Sprott Inc. boosted its stake in Gatos Silver by 9.1% during 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 last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Gatos Silver by 6.7% during 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 during the last quarter. Jump Financial LLC purchased a new position in shares of Gatos Silver in the fourth quarter valued at $94,000. Virtu Financial LLC bought a new stake in Gatos Silver in the fourth quarter worth $182,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Gatos Silver during the first quarter valued at $196,000. 44.81% of the stock is 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.