Gatos Silver, Inc. (NYSE:GATO) Receives $12.90 Average PT from Brokerages

Gatos Silver, Inc. (NYSE:GATO) has been given an average rating of “Hold” by the five brokerages that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $12.90.

Several equities analysts recently commented on GATO shares. CIBC increased their price objective on shares of Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research note on Thursday, September 26th. Canaccord Genuity Group cut Gatos Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of Gatos Silver in a report on Tuesday, October 22nd.

Institutional Trading of Gatos Silver

Institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Gatos Silver by 23,313.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock worth $73,000 after acquiring an additional 6,994 shares during the period. XTX Topco Ltd bought a new position in Gatos Silver during the 2nd quarter worth approximately $112,000. Arizona State Retirement System bought a new position in Gatos Silver during the 2nd quarter worth approximately $121,000. Barclays PLC lifted its position in shares of Gatos Silver by 1,332.9% in the 3rd quarter. Barclays PLC now owns 10,116 shares of the company’s stock worth $152,000 after purchasing an additional 9,410 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Gatos Silver in the 2nd quarter valued at $185,000. Institutional investors own 44.81% of the company’s stock.

Gatos Silver Trading Down 2.6 %

GATO stock opened at $15.27 on Tuesday. The firm has a 50-day moving average price of $16.77 and a 200-day moving average price of $14.00. Gatos Silver has a 12 month low of $5.42 and a 12 month high of $20.31. The stock has a market capitalization of $1.06 billion, a P/E ratio of 31.16 and a beta of 1.93.

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.