Royal Bank of Canada Raises Gatos Silver (NYSE:GATO) Price Target to $13.00

Gatos Silver (NYSE:GATO) had its target price hoisted by Royal Bank of Canada from $11.00 to $13.00 in a research report report published on Tuesday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other brokerages have also commented on GATO. CIBC cut their price target on Gatos Silver from $18.00 to $15.00 and set an outperformer rating for the company in a report on Friday, September 6th. Cibc World Mkts upgraded Gatos Silver to a strong-buy rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Gatos Silver has a consensus rating of Moderate Buy and an average target price of $12.40.

Gatos Silver Stock Performance

GATO opened at $14.58 on Tuesday. The business has a 50 day moving average price of $12.30 and a 200 day moving average price of $10.64. Gatos Silver has a twelve month low of $4.39 and a twelve month high of $14.76. The firm has a market cap of $1.01 billion, a P/E ratio of 66.27 and a beta of 2.10.

Gatos Silver (NYSE:GATO) last posted its 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).

Institutional Trading of Gatos Silver

A number of institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Gatos Silver by 23,313.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock valued at $73,000 after purchasing an additional 6,994 shares during the period. XTX Topco Ltd bought a new stake in shares of Gatos Silver during the second quarter valued at approximately $112,000. Arizona State Retirement System bought a new stake in shares of Gatos Silver during the second quarter valued at approximately $121,000. American Century Companies Inc. increased its position in shares of Gatos Silver by 17.3% during the second quarter. American Century Companies Inc. now owns 84,930 shares of the company’s stock valued at $887,000 after purchasing an additional 12,522 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Gatos Silver during the fourth quarter valued at approximately $94,000. 44.81% of the stock is currently owned by 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.