Canaccord Genuity Group upgraded shares of Gatos Silver (NYSE:GATO – Free Report) from a hold rating to a buy rating in a research note released on Tuesday morning, MarketBeat.com reports. The brokerage currently has $12.50 price objective on the stock, up from their prior price objective of $6.50.
Other equities research analysts have also issued reports about the stock. 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 report on Thursday, March 28th. BMO Capital Markets boosted their price objective 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.
View Our Latest Stock Analysis on Gatos Silver
Gatos Silver Trading Up 0.8 %
Gatos Silver (NYSE:GATO – Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12.
Institutional Investors Weigh In On Gatos Silver
Several hedge funds have recently added to or reduced their stakes in GATO. Barclays PLC purchased a new stake in Gatos Silver in the third quarter valued at $60,000. International Assets Investment Management LLC purchased a new stake in shares of Gatos Silver during the 4th quarter worth about $64,000. Tower Research Capital LLC TRC boosted its stake in shares of Gatos Silver by 17.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after acquiring an additional 1,690 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Gatos Silver during the 4th quarter worth about $94,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Gatos Silver during the 4th quarter worth about $130,000. 44.81% of the stock is owned by hedge funds and other 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.
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