Gatos Silver, Inc. (NYSE:GATO) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Gatos Silver, Inc. (NYSE:GATO - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the five research firms that are presently covering the company, MarketBeat.com reports. 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 company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $12.90.

Several research analysts recently commented on GATO shares. CIBC lifted their price target on Gatos Silver from $15.00 to $17.50 and gave the stock an "outperformer" rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their target price on Gatos Silver from $11.00 to $13.00 and gave the company a "sector perform" rating in a research report on Tuesday, September 10th. Finally, Cibc World Mkts upgraded Gatos Silver to a "strong-buy" rating in a report on Wednesday, July 10th.

Gatos Silver Stock Up 4.3 %

NYSE GATO traded up $0.79 during trading on Monday, hitting $19.26. 1,321,295 shares of the stock traded hands, compared to its average volume of 546,784. Gatos Silver has a 12-month low of $4.39 and a 12-month high of $19.75. The firm has a 50-day simple moving average of $14.22 and a 200-day simple moving average of $12.20. The company has a market capitalization of $1.33 billion, a P/E ratio of 86.36 and a beta of 2.10.

Gatos Silver (NYSE:GATO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02).

Institutional Investors Weigh In On Gatos Silver

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in Gatos Silver in the second quarter worth $702,000. Mackenzie Financial Corp grew its holdings in shares of Gatos Silver by 5.1% in the second quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company's stock worth $13,836,000 after purchasing an additional 64,758 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new position in Gatos Silver in the 2nd quarter worth about $404,000. Squarepoint Ops LLC bought a new stake in Gatos Silver during the 2nd quarter valued at about $185,000. Finally, XTX Topco Ltd purchased a new stake in Gatos Silver in the 2nd quarter valued at about $112,000. 44.81% of the stock is owned by 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.