Gatos Silver (NYSE:GATO – Get Free Report) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat reports. The brokerage currently has a $12.50 price target on the stock, up from their prior price target of $6.50. Canaccord Genuity Group’s target price indicates a potential upside of 26.14% from the stock’s previous close.
GATO has been the topic of a number of other research reports. BMO Capital Markets raised their price objective on shares of Gatos Silver from $8.00 to $9.00 and gave the stock a “market perform” rating in a research note on Thursday, April 11th. Royal Bank of Canada lifted their price target on shares of Gatos Silver from $6.50 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, March 28th. Finally, Canaccord Genuity Group raised shares of Gatos Silver from a “hold” rating to a “buy” rating and lifted their price target for the company from $6.50 to $12.50 in a research note on Tuesday.
View Our Latest Report on Gatos Silver
Gatos Silver Price Performance
Gatos Silver (NYSE:GATO – Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.12.
Institutional Trading of Gatos Silver
Several institutional investors and hedge funds have recently bought and sold shares of GATO. Barclays PLC purchased a new stake in Gatos Silver in the 3rd quarter valued at about $60,000. International Assets Investment Management LLC acquired a new position in shares of Gatos Silver during the fourth quarter worth about $64,000. Tower Research Capital LLC TRC grew its position in shares of Gatos Silver by 17.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after buying an additional 1,690 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Gatos Silver during the fourth quarter worth about $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Gatos Silver during the fourth quarter worth about $130,000. 44.81% of the stock is currently owned by hedge funds and other 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.
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