Royal Bank of Canada Boosts Gatos Silver (NYSE:GATO) Price Target to $13.00

Gatos Silver (NYSE:GATO) had its price target raised by Royal Bank of Canada from $11.00 to $13.00 in a research report report published on Tuesday, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

GATO has been the topic of a number of other reports. CIBC lowered their price target on shares of Gatos Silver from $18.00 to $15.00 and set an outperformer rating on the stock in a report on Friday, September 6th. Cibc World Mkts upgraded shares of Gatos Silver to a strong-buy rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $12.40.

Gatos Silver Price Performance

Shares of Gatos Silver stock opened at $15.45 on Tuesday. Gatos Silver has a 1 year low of $4.39 and a 1 year high of $15.60. The firm’s 50-day moving average is $12.38 and its two-hundred day moving average is $10.70. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 70.23 and a beta of 2.09.

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

Hedge Funds Weigh In On Gatos Silver

A number of institutional investors have recently bought and sold shares of GATO. Jump Financial LLC purchased a new position in Gatos Silver during the 4th quarter worth approximately $94,000. Sprott Inc. increased its holdings in shares of Gatos Silver by 9.1% during the 4th quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock valued at $22,848,000 after purchasing an additional 291,052 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Gatos Silver during the 4th quarter valued at approximately $182,000. Cornerstone Investment Partners LLC purchased a new position in shares of Gatos Silver during the 1st quarter valued at approximately $172,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 valued at $10,845,000 after purchasing an additional 80,889 shares in the last quarter. 44.81% of the stock is owned by hedge funds and other institutional investors.

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.