Gatos Silver (NYSE:GATO) Downgraded by Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Gatos Silver (NYSE:GATO) from a buy rating to a hold rating in a research report released on Tuesday morning, MarketBeat Ratings reports.

Other analysts have also recently issued reports about the stock. Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. CIBC increased their price target on Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada boosted their price objective on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.90.

Gatos Silver Stock Performance

NYSE GATO opened at $19.71 on Tuesday. The business’s fifty day moving average is $14.69 and its 200 day moving average is $12.40. Gatos Silver has a fifty-two week low of $4.39 and a fifty-two week high of $20.22. The company 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 posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02).

Hedge Funds Weigh In On Gatos Silver

Several institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in Gatos Silver by 6.7% in the 1st 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 in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Gatos Silver in the first quarter worth about $196,000. Tidal Investments LLC purchased a new stake in shares of Gatos Silver in the first quarter worth about $17,397,000. U S Global Investors Inc. bought a new position in Gatos Silver during the second quarter valued at approximately $940,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in 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 buying an additional 6,994 shares during the last quarter. 44.81% of the stock is 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.