Gatos Silver (NYSE:GATO) Rating Reiterated by Canaccord Genuity Group

Canaccord Genuity Group reiterated their hold rating on shares of Gatos Silver (NYSE:GATO) in a report issued on Tuesday, Marketbeat.com reports.

A number of other brokerages have also recently commented on GATO. CIBC raised their price objective on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research note on Thursday, September 26th. Canaccord Genuity Group lowered shares of Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday. Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada increased their target price 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. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.90.

Gatos Silver Price Performance

Shares of GATO opened at $19.71 on Tuesday. The company’s fifty day moving average price is $14.84 and its 200-day moving average price is $12.45. Gatos Silver has a 1-year low of $4.39 and a 1-year high of $20.22. The firm has a market capitalization of $1.36 billion, a PE ratio of 89.59 and a beta of 2.10.

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

Hedge Funds Weigh In On Gatos Silver

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lingotto Investment Management LLP increased its stake in Gatos Silver by 1.6% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock worth $36,578,000 after buying an additional 54,222 shares during the period. Tidal Investments LLC acquired a new position in shares of Gatos Silver in the first quarter worth $17,397,000. Mackenzie Financial Corp increased its position in shares of Gatos Silver by 5.1% during the second quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock worth $13,836,000 after acquiring an additional 64,758 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Gatos Silver by 6.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock valued at $10,845,000 after acquiring an additional 80,889 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Gatos Silver by 18.4% in the second quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock valued at $9,853,000 after purchasing an additional 146,462 shares during the period. 44.81% of the stock is currently owned by hedge funds and other 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.