Canaccord Genuity Group upgraded shares of Gatos Silver (NYSE:GATO – Free Report) from a hold rating to a buy rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have $12.50 price target on the stock, up from their previous price target of $6.50.
A number of other research analysts have also issued reports on the stock. BMO Capital Markets upped their target price on shares of Gatos Silver from $8.00 to $9.00 and gave the company a market perform rating in a report on Thursday, April 11th. Royal Bank of Canada boosted their price objective on shares of Gatos Silver from $6.50 to $7.00 and gave the company a sector perform rating in a research report on Thursday, March 28th.
View Our Latest Research Report on GATO
Gatos Silver Price Performance
Gatos Silver (NYSE:GATO – Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.12.
Hedge Funds Weigh In On Gatos Silver
Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC purchased a new stake in Gatos Silver in the 3rd quarter valued at about $60,000. International Assets Investment Management LLC purchased a new stake in Gatos Silver in the fourth quarter valued at approximately $64,000. Tower Research Capital LLC TRC increased its position in Gatos Silver by 17.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after purchasing an additional 1,690 shares during the last quarter. Jump Financial LLC acquired a new position in Gatos Silver during the fourth quarter worth approximately $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Gatos Silver during the fourth quarter worth approximately $130,000. 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.
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