Gatos Silver, Inc. (NYSE:GATO) Receives Consensus Rating of “Moderate Buy” from Analysts

Gatos Silver, Inc. (NYSE:GATO) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $12.90.

GATO has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 10th. Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, CIBC lifted their target price on shares of Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research note on Thursday, September 26th.

Hedge Funds Weigh In On Gatos Silver

Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Gatos Silver by 23,313.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock worth $73,000 after purchasing an additional 6,994 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Gatos Silver during the second quarter valued at $112,000. Arizona State Retirement System bought a new position in Gatos Silver in the second quarter valued at about $121,000. Squarepoint Ops LLC acquired a new stake in Gatos Silver in the second quarter worth about $185,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Gatos Silver during the 1st quarter worth about $196,000. 44.81% of the stock is owned by institutional investors.

Gatos Silver Stock Up 15.5 %

NYSE GATO opened at $18.47 on Monday. Gatos Silver has a twelve month low of $4.39 and a twelve month high of $18.64. The stock has a market cap of $1.28 billion, a P/E ratio of 83.95 and a beta of 2.10. The company’s 50-day simple moving average is $14.22 and its 200 day simple moving average is $12.20.

Gatos Silver (NYSE:GATO) last released 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).

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.