Gatos Silver, Inc. (NYSE:GATO) Short Interest Update

Gatos Silver, Inc. (NYSE:GATO) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 1,350,000 shares, a decrease of 9.4% from the September 30th total of 1,490,000 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average daily volume of 835,400 shares, the short-interest ratio is currently 1.6 days.

Gatos Silver Stock Performance

Shares of GATO traded down $0.22 during mid-day trading on Friday, hitting $18.33. The company’s stock had a trading volume of 345,479 shares, compared to its average volume of 554,759. Gatos Silver has a one year low of $4.39 and a one year high of $20.31. The firm has a market capitalization of $1.27 billion, a PE ratio of 46.38 and a beta of 2.10. The stock’s 50-day moving average is $15.50 and its two-hundred day moving average is $12.79.

Gatos Silver (NYSE:GATO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02).

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GATO shares. CIBC boosted their price target on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research note on Thursday, September 26th. Canaccord Genuity Group reissued a “hold” rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. Cibc World Mkts raised Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. Royal Bank of Canada boosted their price target on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 10th. Finally, Canaccord Genuity Group cut Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.90.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Gatos Silver by 23,313.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock valued at $73,000 after purchasing an additional 6,994 shares in the last quarter. XTX Topco Ltd acquired a new position in Gatos Silver during the second quarter worth $112,000. Arizona State Retirement System acquired a new position in Gatos Silver during the second quarter worth $121,000. American Century Companies Inc. raised its stake in Gatos Silver by 17.3% during the second quarter. American Century Companies Inc. now owns 84,930 shares of the company’s stock worth $887,000 after acquiring an additional 12,522 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Gatos Silver during the second quarter worth $185,000. 44.81% of the stock is currently owned by institutional investors and hedge funds.

About Gatos Silver

Gatos Silver, Inc engages in the exploration, development, and production of precious metals. It primarily explores for silver deposits. The company also explores for zinc, lead, copper, and gold ores. Its flagship asset is the Los Gatos District, including the Cerro Los Gatos mine in Chihuahua, Mexico.