UPDATE: RBC Capital Double Downgrades Gatos Silver (GATO) to Underperform

(Updated - January 26, 2022 5:35 AM EST)

RBC Capital analyst Micheal Siperco downgraded Gatos Silver (NYSE: GATO) from Outperform to Underperform with a price target of $4.00 (from $17.00).

The analyst comments "The disclosure that the 2020 resource model could be overestimated by 30-50% and should no longer be relied upon is a significant negative event, and puts our estimates and valuation in question. Until there is more disclosure and detail provided (perhaps in 2H22), it is difficult to have confidence in CLG or the outlook, leading to our downgrade to Underperform, Spec. Risk and ~75% price target cut."

For an analyst ratings summary and ratings history on Gatos Silver click here. For more ratings news on Gatos Silver click here.

Shares of Gatos Silver closed at $10.19 yesterday.

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