Gatos Silver price target raised to $9 from $8 at BMO Capital

BMO Capital analyst Kevin O’Halloran raised the firm’s price target on Gatos Silver to $9 from $8 and keeps a Market Perform rating on the shares. The company’s Q1 silver output exceeded the firm’s estimates while throughput averaged 3,210tpd – another quarterly record driven by higher mining rates and processing surface stockpiles, the analyst tells investors in a research note. BMO adds that throughput was also higher than planned, and the company is now forecasting sustaining current production levels for the remainder of the year.