Gatos Silver Shares Up 5% Following Q1 Results
Gatos Silver, Inc. (NYSE:GATO) shares closed more than 5% higher on Friday following the company’s record Q1 results, with silver production at 2.39 million ounces, which represents a 58% year-over-year increase. This was mainly the result of significantly higher silver grades, higher plant throughput and improved recoveries.
Analysts at RBC Capital upgraded the company to sector perform from underperform with a price target of $4, reflecting their view that the bottom for the company is likely in, pending further disclosure regarding the resource/mine plan expected in the second half of the year.
Nonetheless, the analysts said they continue to see uncertainty weighing on the stock and capping potential upside until then. While the analysts expect solid operating results and cash flow generation in 2022, they remain cautious until there is more visibility into 2023 and beyond.
| Symbol | Price | %chg |
|---|---|---|
| AMMN.JK | 8500 | 0 |
| RBP.JO | 12750 | 0 |
| MINE.JK | 525 | 0 |
| ALRS.ME | 46.25 | 0.39 |
Gatos Silver Shares Up 5% Following Q1 Results
Gatos Silver, Inc. (NYSE:GATO) shares closed more than 5% higher on Friday following the company’s record Q1 results, with silver production at 2.39 million ounces, which represents a 58% year-over-year increase. This was mainly the result of significantly higher silver grades, higher plant throughput and improved recoveries.
Analysts at RBC Capital upgraded the company to sector perform from underperform with a price target of $4, reflecting their view that the bottom for the company is likely in, pending further disclosure regarding the resource/mine plan expected in the second half of the year.
Nonetheless, the analysts said they continue to see uncertainty weighing on the stock and capping potential upside until then. While the analysts expect solid operating results and cash flow generation in 2022, they remain cautious until there is more visibility into 2023 and beyond.
