Gatos Silver (NYSE:GATO) Sets New 12-Month High Following Analyst Upgrade

Gatos Silver, Inc. (NYSE:GATO) hit a new 52-week high during mid-day trading on Thursday after Cibc World Mkts upgraded the stock to a strong-buy rating. The company traded as high as $13.92 and last traded at $13.49, with a volume of 93436 shares trading hands. The stock had previously closed at $13.51.

A number of other analysts have also issued reports on GATO. Royal Bank of Canada boosted their price target on Gatos Silver from $6.50 to $7.00 and gave the company a “sector perform” rating in a report on Thursday, March 28th. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and boosted their price target for the company from $6.50 to $12.50 in a report on Tuesday, April 23rd. BMO Capital Markets boosted 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. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and upped their target price for the stock from $6.50 to $12.50 in a report on Tuesday, April 23rd. Finally, CIBC upped their target price on Gatos Silver from $16.00 to $18.00 and gave the stock an “outperformer” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.80.

Institutional Investors Weigh In On Gatos Silver

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in Gatos Silver in the fourth quarter valued at about $64,000. Tower Research Capital LLC TRC raised its stake in Gatos Silver by 17.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock valued at $75,000 after buying an additional 1,690 shares during the last quarter. Jump Financial LLC purchased a new stake in Gatos Silver in the fourth quarter valued at about $94,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Gatos Silver in the fourth quarter valued at about $130,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in Gatos Silver in the first quarter valued at about $172,000. Institutional investors own 44.81% of the company’s stock.

Gatos Silver Stock Down 0.8 %

The business has a 50 day simple moving average of $11.30 and a 200 day simple moving average of $8.79. The company has a market capitalization of $942.92 million, a PE ratio of 61.95 and a beta of 2.10.

Gatos Silver (NYSE:GATO) last released its quarterly earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter.

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.