Gatos Silver (NYSE:GATO) Given New $17.50 Price Target at CIBC

Gatos Silver (NYSE:GATO) had its target price boosted by CIBC from $15.00 to $17.50 in a report released on Thursday, Benzinga reports. CIBC currently has an outperformer rating on the stock.

A number of other brokerages have also recently weighed in on GATO. Cibc World Mkts upgraded shares of Gatos Silver to a strong-buy rating in a report on Wednesday, July 10th. Royal Bank of Canada boosted their price target on shares of Gatos Silver from $11.00 to $13.00 and gave the stock a sector perform rating in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Gatos Silver has a consensus rating of Moderate Buy and a consensus price target of $12.90.

Gatos Silver Stock Down 2.9 %

Shares of NYSE GATO opened at $15.90 on Thursday. The business’s 50 day moving average is $12.89 and its two-hundred day moving average is $11.34. Gatos Silver has a 52-week low of $4.39 and a 52-week high of $16.65. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 72.27 and a beta of 2.09.

Gatos Silver (NYSE:GATO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02).

Institutional Investors Weigh In On Gatos Silver

Hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC purchased a new position in Gatos Silver in the first quarter valued at $17,397,000. Sprott Inc. boosted its position in shares of Gatos Silver by 9.1% during the 4th quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock worth $22,848,000 after acquiring an additional 291,052 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Gatos Silver by 18.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock valued at $9,853,000 after acquiring an additional 146,462 shares during the last quarter. U S Global Investors Inc. acquired a new stake in shares of Gatos Silver during the 2nd quarter worth about $940,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Gatos Silver by 6.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock worth $10,845,000 after purchasing an additional 80,889 shares during the last quarter. 44.81% of the stock is currently owned by institutional investors and hedge funds.

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.