Major Brokerage Firms Issue Research Notes on Gatos Silver Inc. (GATO)

Gatos Silver Inc. (NYSE:GATO) saw an upside of 1.35% to close Tuesday at $4.51 after adding $0.06 on the day. The 5-day average trading volume is 409,440 shares of the company’s common stock. It has gained $4.75 in the past week and touched a new high 3 times within the past 5 days. An average of 322,280 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 324,662.

GATO’s 1-month performance is -12.60% or -$0.43 on its low of $4.00 reached on 02/28/23. The company’s shares have touched a 52-week low of $2.20 and high of $5.62, with the stock’s rally to the 52-week high happening on 01/26/23. YTD, GATO has achieved 10.27% or $0.42 and has reached a new high 10 times. However, the current price is down -19.82% from the 52-week high price.

Valuation Metrics

Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 0.80.

The firm’s gross profit as reported stood at -$4.05 million against revenue of -$8.58 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 107.93% to -$15.0 million, while revenue of $13.49 million was 189.93% off the previous quarter. Analysts expected GATO to announce $0.08 per share in earnings in its latest quarter, but it posted -$0.22, representing a -375.00% surprise. EBITDA for the quarter stood at more than -$6.47 million. GATO stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 16.63 million, with total debt at $12.58 million. Shareholders hold equity totaling $69.14 million.

Let’s look briefly at Gatos Silver Inc. (GATO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 March was 48.67% to suggest the stock is trending Neutral, with historical volatility in this time period at 80.29%.

The stock’s 5-day moving average is $4.53, reflecting a +11.63% or $0.47 change from its current price. GATO is currently trading -8.70% above its 20-day SMA, +74.81% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +14.76% and SMA200 by+53.40%.

Stochastic %K and %D was 60.44% and 61.54% and the average true range (ATR) pointed at 0.26. The RSI (14) points at 47.67%, while the 14-day stochastic is at 56.04% with the period’s ATR at 0.27. The stock’s 9-day MACD Oscillator is pointing at 0.18 and 0.08 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Gatos Silver Inc. (NYSE: GATO), RBC Capital Mkts upgraded it to a Sector perform rating. They previously had an Underperform rating on the stock.

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