Gatos Silver surges as Canaccord upgrades to Buy on Cerro Los Gatos strength

seekingalpha04-24

Gatos Silver (NYSE:GATO) +7.2% in Tuesday's trading as Canaccord Genuity upgrades shares to Buy from Hold with a $12.50 price target, raised from $6.50, citing consistently strong operating prowess ...

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Gatos Silver  released strong Q1 operating results on April 9, according to Canaccord analyst Carey MacRury, with silver and gold 21% and 26% ahead of estimates, respectively, in another solid quarter of mill performance, with throughput rates averaging 3,210 tons/day, and Cerro Los Gatos apparently well on its way to averaging 3,500 tons/day over the next 12 months. MacRury forecasts the Cerro Los Gatos operation will produce 9.2M oz of silver in 2024, at the top end of the 8.4M-9.2M oz guidance range, despite assuming the mill will average just 3,036 tons/day over the rest of the year vs. the Q1 run rate of 3,210 tons/day and guidance of 3,000-3,300 tons/day; as such, the analyst believes Gatos Silver  is well positioned to exceed guidance this year.  More on Gatos Silver  Gatos","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4210":"白银","GATO":"Gatos Silver, Inc."},"translate_title":"加托斯白银飙升，Canaccord上调买入Cerro Los Gatos实力","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GATO":1},"content_text":"Gatos Silver (NYSE:GATO) +7.2% in Tuesday's trading as Canaccord Genuity upgrades shares to Buy from Hold with a $12.50 price target, raised from $6.50, citing consistently strong operating prowess from Cerro Los Gatos. Gatos Silver (GATO) released strong Q1 operating results on April 9, according to Canaccord analyst Carey MacRury, with silver and gold 21% and 26% ahead of estimates, respectively, in another solid quarter of mill performance, with throughput rates averaging 3,210 tons/day, and Cerro Los Gatos apparently well on its way to averaging 3,500 tons/day over the next 12 months. MacRury forecasts the Cerro Los Gatos operation will produce 9.2M oz of silver in 2024, at the top end of the 8.4M-9.2M oz guidance range, despite assuming the mill will average just 3,036 tons/day over the rest of the year vs. the Q1 run rate of 3,210 tons/day and guidance of 3,000-3,300 tons/day; as such, the analyst believes Gatos Silver (GATO) is well positioned to exceed guidance this year.  More on Gatos Silver  Gatos Silver Q4 2023 Earnings Call Transcript Gatos Silver: Why I'm Taking Profits Again Gatos Silver: Attractive Entry Point In Sight, But Patience Required","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429146386"}