Gatos Silver (NYSE:GATO – Get Free Report) was upgraded by analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, StockNewsAPI reports. The firm presently has a $12.50 price objective on the stock, up from their prior price objective of $6.50. Canaccord Genuity Group’s price target would suggest a potential upside of 33.26% from the company’s current price.
GATO has been the topic of several other reports. BMO Capital Markets lifted their target price on shares of Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a research report on Thursday, April 11th. Canaccord Genuity Group raised Gatos Silver from a “hold” rating to a “buy” rating and lifted their price objective for the company from $6.50 to $12.50 in a report on Tuesday. Finally, Royal Bank of Canada increased their target price on Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, March 28th.
Get Our Latest Stock Report on GATO
Gatos Silver Trading Down 3.1 %
Gatos Silver (NYSE:GATO – Get Free Report) last issued its earnings results on Wednesday, February 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.06 by $0.12.
Institutional Investors Weigh In On Gatos Silver
A number of large investors have recently bought and sold shares of GATO. Mirae Asset Global Investments Co. Ltd. boosted its stake in Gatos Silver by 2.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,202,624 shares of the company’s stock worth $6,230,000 after purchasing an additional 23,996 shares in the last quarter. Barclays PLC bought a new position in shares of Gatos Silver in the third quarter valued at about $60,000. Van ECK Associates Corp lifted its position in Gatos Silver by 0.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,729,445 shares of the company’s stock worth $8,959,000 after buying an additional 11,884 shares in the last quarter. Sprott Inc. lifted its position in Gatos Silver by 2.6% during the 3rd quarter. Sprott Inc. now owns 3,205,240 shares of the company’s stock worth $16,603,000 after buying an additional 81,076 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Gatos Silver during the 4th quarter worth about $64,000. 44.81% of the stock is currently owned by institutional investors.
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.
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