Gatos Silver (NYSE:GATO) Shares Gap Down – Time to Sell?

Gatos Silver, Inc. (NYSE:GATO) shares gapped down before the market opened on Monday . The stock had previously closed at $15.46, but opened at $15.04. Gatos Silver shares last traded at $15.06, with a volume of 61,537 shares traded.

Analysts Set New Price Targets

GATO has been the topic of a number of analyst reports. Canaccord Genuity Group lowered Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their target price on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. Canaccord Genuity Group restated a “hold” rating on shares of Gatos Silver in a report on Tuesday, October 22nd. Finally, CIBC boosted their price target on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research report on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Gatos Silver presently has a consensus rating of “Hold” and a consensus target price of $12.90.

Gatos Silver Trading Up 6.8 %

The firm has a 50-day moving average of $16.76 and a 200 day moving average of $13.76. The company has a market cap of $1.11 billion, a P/E ratio of 32.59 and a beta of 1.93.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Gatos Silver during the third quarter worth about $271,000. Barclays PLC boosted its stake in Gatos Silver by 1,332.9% during the 3rd quarter. Barclays PLC now owns 10,116 shares of the company’s stock valued at $152,000 after purchasing an additional 9,410 shares during the last quarter. Geode Capital Management LLC increased its holdings in Gatos Silver by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 514,280 shares of the company’s stock worth $7,759,000 after purchasing an additional 5,991 shares in the last quarter. Vestcor Inc purchased a new stake in shares of Gatos Silver in the third quarter worth approximately $398,000. Finally, K2 Principal Fund L.P. purchased a new stake in shares of Gatos Silver in the third quarter worth approximately $2,037,000. Institutional investors and hedge funds own 44.81% of the company’s stock.

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.