Gatos Silver (NYSE:GATO) PT Raised to $7.00 at Royal Bank of Canada

Gatos Silver (NYSE:GATO) had its price objective boosted by equities researchers at Royal Bank of Canada from $6.50 to $7.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential downside of 17.55% from the company’s previous close.

Separately, BMO Capital Markets restated a “market perform” rating and issued a $6.25 target price on shares of Gatos Silver in a research note on Friday, December 1st.

Gatos Silver Trading Up 3.9 %

NYSE:GATO traded up $0.32 during mid-day trading on Thursday, hitting $8.49. 123,154 shares of the company’s stock traded hands, compared to its average volume of 288,765. The firm has a 50 day moving average of $6.74 and a two-hundred day moving average of $6.03. The firm has a market capitalization of $587.34 million, a price-to-earnings ratio of 44.26 and a beta of 2.15. Gatos Silver has a 12 month low of $3.51 and a 12 month high of $8.82.

Gatos Silver (NYSE:GATO) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GATO. Vanguard Group Inc. increased its position in Gatos Silver by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 711,529 shares of the company’s stock worth $4,653,000 after purchasing an additional 29,402 shares during the period. Virtu Financial LLC acquired a new position in shares of Gatos Silver in the fourth quarter valued at approximately $182,000. GSA Capital Partners LLP acquired a new position in Gatos Silver in the 4th quarter worth $544,000. Condire Management LP grew its holdings in shares of Gatos Silver by 1.3% during the fourth quarter. Condire Management LP now owns 5,750,000 shares of the company’s stock worth $37,605,000 after buying an additional 75,085 shares in the last quarter. Finally, Sprott Inc. raised its holdings in shares of Gatos Silver by 9.1% in the fourth quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock valued at $22,848,000 after purchasing an additional 291,052 shares during the last quarter. 44.81% of the stock is 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.