Gatos Silver (NYSE:GATO) Rating Lowered to Hold at Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Gatos Silver (NYSE:GATO - Free Report) from a buy rating to a hold rating in a report released on Tuesday morning, MarketBeat.com reports.

Other research analysts have also issued reports about the stock. Royal Bank of Canada raised their target price on shares of Gatos Silver from $11.00 to $13.00 and gave the stock a "sector perform" rating in a research report on Tuesday, September 10th. CIBC boosted their price objective on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an "outperformer" rating in a report on Thursday, September 26th. Finally, Cibc World Mkts upgraded shares of Gatos Silver to a "strong-buy" rating in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $12.90.

Gatos Silver Price Performance

Shares of GATO traded up $0.70 during trading hours on Tuesday, hitting $19.96. The company's stock had a trading volume of 1,396,057 shares, compared to its average volume of 550,947. The business has a 50 day simple moving average of $14.37 and a two-hundred day simple moving average of $12.27. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 90.73 and a beta of 2.10. Gatos Silver has a 52-week low of $4.39 and a 52-week high of $20.22.

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

Hedge Funds Weigh In On Gatos Silver

A number of large investors have recently added to or reduced their stakes in the stock. Alpha DNA Investment Management LLC purchased a new position in Gatos Silver during the second quarter worth approximately $404,000. Dimensional Fund Advisors LP increased its holdings in Gatos Silver by 18.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company's stock worth $9,853,000 after purchasing an additional 146,462 shares during the period. ClariVest Asset Management LLC lifted its stake in Gatos Silver by 23.0% in the second quarter. ClariVest Asset Management LLC now owns 248,312 shares of the company's stock worth $2,592,000 after acquiring an additional 46,407 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Gatos Silver by 6.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company's stock worth $10,845,000 after purchasing an additional 80,889 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Gatos Silver by 5.1% in the 2nd quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company's stock valued at $13,836,000 after acquiring an additional 64,758 shares during the last quarter. 44.81% of the stock is currently owned by institutional investors and hedge funds.

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.