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 note issued to investors on Tuesday, Benzinga reports.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada lifted their price objective on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 10th. Cibc World Mkts raised Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. Canaccord Genuity Group cut Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, CIBC upped their target price on Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a report on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.90.

Gatos Silver Stock Up 4.3 %

GATO opened at $19.26 on Tuesday. The firm has a market capitalization of $1.33 billion, a P/E ratio of 87.55 and a beta of 2.10. The stock’s 50 day moving average price is $14.37 and its two-hundred day moving average price is $12.27. Gatos Silver has a 12-month low of $4.39 and a 12-month high of $19.75.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GATO. Tidal Investments LLC acquired a new position in Gatos Silver during the 1st quarter worth approximately $17,397,000. Dimensional Fund Advisors LP increased its holdings in Gatos Silver by 18.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock worth $9,853,000 after purchasing an additional 146,462 shares in the last quarter. U S Global Investors Inc. bought a new stake in Gatos Silver during the 2nd quarter worth approximately $940,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 worth $10,845,000 after purchasing an additional 80,889 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Gatos Silver during the 2nd quarter worth approximately $702,000. 44.81% of the stock is owned by institutional investors and hedge funds.

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.