Gatos Silver (NYSE:GATO) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

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

Gatos Silver Stock Down 6.6 %

GATO stock traded down $0.72 during trading on Wednesday, hitting $10.11. The company had a trading volume of 412,692 shares, compared to its average volume of 421,193. The firm has a 50-day moving average price of $11.70 and a 200-day moving average price of $9.57. The firm has a market cap of $699.42 million, a PE ratio of 45.95 and a beta of 2.10. Gatos Silver has a 1-year low of $3.90 and a 1-year high of $14.45.

Analyst Ratings Changes

Several research firms have issued reports on GATO. Cibc World Mkts upgraded shares of Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. BMO Capital Markets upped their target price on Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a research report on Thursday, April 11th. CIBC raised their price target on Gatos Silver from $16.00 to $18.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Finally, Canaccord Genuity Group raised Gatos Silver from a “hold” rating to a “buy” rating and increased their price objective for the company from $6.50 to $12.50 in a report on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.80.

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.