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

Canaccord Genuity Group downgraded shares of Gatos Silver (NYSE:GATO) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports.

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

Gatos Silver Trading Up 3.6 %

Gatos Silver stock opened at $19.96 on Tuesday. Gatos Silver has a 1 year low of $4.39 and a 1 year high of $20.22. The company has a market cap of $1.38 billion, a PE ratio of 90.73 and a beta of 2.10. The company’s 50-day moving average is $14.37 and its two-hundred day moving average is $12.27.

Gatos Silver (NYSE:GATO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) 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 and hedge funds have recently modified their holdings of the business. Lingotto Investment Management LLP boosted its holdings in shares of Gatos Silver by 1.6% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock worth $36,578,000 after buying an additional 54,222 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Gatos Silver during the 1st quarter worth approximately $17,397,000. Mackenzie Financial Corp boosted its holdings in shares of Gatos Silver by 5.1% during the 2nd quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock worth $13,836,000 after buying an additional 64,758 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted 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 worth $10,845,000 after buying an additional 80,889 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of 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 buying an additional 146,462 shares in the last quarter. 44.81% of the stock is currently owned by 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.