CIBC Capital Markets raised its price target on Gatos Silver Inc. (GATO.TO, GATO) to US$17.50 from US$15.
Analyst Cosmos Chiu maintained an Outperformer rating on shares of the Vancouver-based precious metals miner after it published the results from its updated life of mine plan.
Chiu said GATO highlighted an extension of mine life by two years to 2032 and a higher average throughput.
"Overall, the published NAV (at 100% ownership and at US$23/oz silver) of US$539 Million is approximately 18% higher than our previous model," the analyst said in a note to clients.
"The published summary of the new mine plan also highlights the asset's sensitivity to higher silver prices, with the NAV (at 100% ownership) increasing to US$600 Million at US$25/oz silver (with zinc, lead, gold, and copper prices held constant)," Chiu said.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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