Gatos Silver (NYSE:GATO) Price Target Raised to $9.00

Gatos Silver (NYSE:GATO) had its price objective boosted by equities research analysts at BMO Capital Markets from $8.00 to $9.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price points to a potential downside of 8.07% from the company’s current price.

Separately, Royal Bank of Canada raised 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.

Gatos Silver Trading Up 0.7 %

Gatos Silver stock opened at $9.79 on Thursday. The stock has a market cap of $677.28 million, a price-to-earnings ratio of 51.53 and a beta of 2.21. The company’s 50-day moving average price is $7.42 and its two-hundred day moving average price is $6.31. Gatos Silver has a 52 week low of $3.51 and a 52 week high of $10.96.

Gatos Silver (NYSE:GATO) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.12.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GATO. Tower Research Capital LLC TRC boosted its holdings in shares of 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 period. Deutsche Bank AG boosted its holdings in shares of Gatos Silver by 4.6% during the fourth quarter. Deutsche Bank AG now owns 54,855 shares of the company’s stock worth $224,000 after purchasing an additional 2,390 shares during the period. First Trust Advisors LP boosted its holdings in shares of Gatos Silver by 2.4% during the fourth quarter. First Trust Advisors LP now owns 129,240 shares of the company’s stock worth $845,000 after purchasing an additional 3,071 shares during the period. Tudor Investment Corp Et Al boosted its holdings in shares of Gatos Silver by 2.9% during the second quarter. Tudor Investment Corp Et Al now owns 113,582 shares of the company’s stock worth $429,000 after purchasing an additional 3,174 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Gatos Silver by 21.4% during the first quarter. JPMorgan Chase & Co. now owns 21,935 shares of the company’s stock worth $95,000 after purchasing an additional 3,871 shares during the period. 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.