Gatos Silver price target raised to $17.50 from $15 at CIBC

CIBC analyst Cosmos Chiu raised the firm’s price target on Gatos Silver to $17.50 from $15 and keeps an Outperformer rating on the shares after the company published the results from its updated life of mine plan. The firm says the published net asset value of $539M is18% higher than its previous model. The published summary of the new mine plan also highlights the asset’s sensitivity to higher silver prices, the analyst tells investors in a research note.