Gatos Silver (NYSE:GATO) Upgraded to “Buy” by Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Gatos Silver (NYSE:GATO) from a hold rating to a buy rating in a research report released on Tuesday, Marketbeat Ratings reports. They currently have $12.50 price target on the stock, up from their prior price target of $6.50.

GATO has been the subject of a number of other reports. BMO Capital Markets upped their price target on Gatos Silver from $8.00 to $9.00 and gave the company a market perform rating in a research report on Thursday, April 11th. Royal Bank of Canada upped their target price on Gatos Silver from $6.50 to $7.00 and gave the company a sector perform rating in a report on Thursday, March 28th.

Gatos Silver Stock Performance

Shares of GATO opened at $10.12 on Tuesday. The stock has a 50 day moving average price of $7.87 and a 200 day moving average price of $6.56. The stock has a market capitalization of $700.10 million, a price-to-earnings ratio of 53.26 and a beta of 2.21. Gatos Silver has a one year low of $3.51 and a one year high of $10.96.

Gatos Silver (NYSE:GATO) last issued its earnings results on Wednesday, February 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12.

Institutional Trading of Gatos Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in GATO. Van ECK Associates Corp raised its holdings in Gatos Silver by 0.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,729,445 shares of the company’s stock valued at $8,959,000 after buying an additional 11,884 shares during the period. Sprott Inc. raised its stake in shares of Gatos Silver by 2.6% in the 3rd quarter. Sprott Inc. now owns 3,205,240 shares of the company’s stock valued at $16,603,000 after acquiring an additional 81,076 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Gatos Silver by 0.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,211,756 shares of the company’s stock worth $7,925,000 after acquiring an additional 9,132 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Gatos Silver by 17.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after acquiring an additional 1,690 shares during the last quarter. Finally, Barclays PLC purchased a new position in shares of Gatos Silver during the 3rd quarter worth approximately $60,000. Institutional investors and hedge funds own 44.81% of the company’s stock.

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.