tiprankstipranks
TipRanksStock Market NewsGATO NewsCanaccord Genuity Downgrades Gatos Silver (GATO) to Hold
Blurbs

Canaccord Genuity Downgrades Gatos Silver (GATO) to Hold

Gatos Silver (GATOResearch Report) received a Hold rating and a $4.00 price target from Canaccord Genuity analyst Kevin MacKenzie today. The company’s shares closed last Wednesday at $3.17, close to its 52-week low of $3.00.

According to TipRanks.com, MacKenzie is a 5-star analyst with an average return of 19.7% and a 56.4% success rate. MacKenzie covers the Basic Materials sector, focusing on stocks such as Great Bear Resources, Pretium Resources, and Alexco Resource.

The word on The Street in general, suggests a Hold analyst consensus rating for Gatos Silver with a $8.20 average price target, implying a 94.3% upside from current levels. In a report released yesterday, CIBC also downgraded the stock to Hold with a $7.00 price target.

See the top stocks recommended by analysts >>

Based on Gatos Silver’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $15 million. In comparison, last year the company had a GAAP net loss of $1.19 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Gatos Silver Inc is a precious metals production, development and exploration company with the objective of becoming a silver producer. The company is focused on the production and development of the Cerro Los Gatos Mine.

Read More on GATO:

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More