10:35 AM EDT, 04/10/2024 (MT Newswires) -- RBC Capital Markets said Tuesday that Gatos Silver Inc. ( GATO ) 's first-quarter silver equivalent production of 3.7 million ounces beat RBC's estimate of 3.2 million ounces.

Silver output of 2.4 million ounces was also above RBC's forecast of 2.0 million ounces.

RBC said the beat was driven by better-than-expected grade and throughput.

For 2024, RBC said Gatos Silver ( GATO ) is focused on exploration, the resource/mine plan update in the third quarter, and ongoing asset optimization.

RBC gave Gatos a sector perform, speculative risk rating with a US$7.00 price target.

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