Canaccord Genuity Group upgraded shares of Gatos Silver (NYSE:GATO – Free Report) from a hold rating to a buy rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $12.50 price objective on the stock, up from their previous price objective of $6.50.
Other equities analysts have also issued reports about the company. Canaccord Genuity Group raised Gatos Silver from a hold rating to a buy rating and lifted their price objective for the stock from $6.50 to $12.50 in a research note on Tuesday. BMO Capital Markets upped their price objective on shares of Gatos Silver from $8.00 to $9.00 and gave the company a market perform rating in a research note on Thursday, April 11th. Finally, Royal Bank of Canada lifted their target price on shares of Gatos Silver from $6.50 to $7.00 and gave the stock a sector perform rating in a research note on Thursday, March 28th.
Check Out Our Latest Report on GATO
Gatos Silver Price Performance
Gatos Silver (NYSE:GATO – Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.12.
Institutional Trading of Gatos Silver
Several hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in Gatos Silver by 17.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock valued at $75,000 after purchasing an additional 1,690 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Gatos Silver by 0.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,211,756 shares of the company’s stock worth $7,925,000 after buying an additional 9,132 shares during the period. International Assets Investment Management LLC bought a new position in Gatos Silver in the fourth quarter worth approximately $64,000. Barclays PLC acquired a new position in shares of Gatos Silver during the third quarter worth approximately $60,000. Finally, Van ECK Associates Corp grew its position in Gatos Silver by 0.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,729,445 shares of the company’s stock valued at $8,959,000 after purchasing an additional 11,884 shares during the period. 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.
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