Gatos Silver price target lowered to $15 from $18 at CIBC

CIBC lowered the firm’s price target on Gatos Silver (GATO) to $15 from $18 and keeps an Outperformer rating on the shares. The firm cut the target to reflect the current takeover offer on the table by First Majestic (AG), while incorporating “some probability of an interloper given the attractiveness of the asset.”