CIBC Raises Gatos Silver (NYSE:GATO) Price Target to $17.50

Gatos Silver (NYSE:GATO - Get Free Report) had its price target hoisted by analysts at CIBC from $15.00 to $17.50 in a report released on Thursday, Benzinga reports. The brokerage currently has an "outperformer" rating on the stock. CIBC's target price would indicate a potential upside of 6.84% from the stock's previous close.

Other equities analysts have also recently issued reports about the company. Cibc World Mkts raised Gatos Silver to a "strong-buy" rating in a research report on Wednesday, July 10th. Royal Bank of Canada boosted their target price on Gatos Silver from $11.00 to $13.00 and gave the stock a "sector perform" rating in a research report on Tuesday, September 10th. Two research 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 stock. Based on data from MarketBeat, Gatos Silver has an average rating of "Moderate Buy" and an average price target of $12.90.

Gatos Silver Price Performance

GATO traded up $0.27 on Thursday, hitting $16.38. The company had a trading volume of 1,155,250 shares, compared to its average volume of 509,908. The stock has a fifty day simple moving average of $12.76 and a 200-day simple moving average of $11.22. The firm has a market capitalization of $1.14 billion, a P/E ratio of 75.09 and a beta of 2.09. Gatos Silver has a 52-week low of $4.39 and a 52-week high of $16.65.

Gatos Silver (NYSE:GATO - Get Free Report) last announced its quarterly earnings data 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

Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Gatos Silver by 23,313.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company's stock valued at $73,000 after acquiring an additional 6,994 shares during the last quarter. Jump Financial LLC bought a new position in shares of Gatos Silver in the 4th quarter valued at about $94,000. XTX Topco Ltd purchased a new position in Gatos Silver in the second quarter worth about $112,000. Arizona State Retirement System bought a new stake in Gatos Silver during the second quarter worth approximately $121,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in Gatos Silver during the first quarter valued at approximately $172,000. Hedge funds and other institutional investors 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.