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

Gatos Silver, Inc. (NYSE:GATO) was the target of a significant 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. Currently, 2.9% of the company’s stock are short sold. Based on an average daily volume of 835,400 shares, the days-to-cover ratio is presently 1.6 days.

Gatos Silver Trading Down 1.7 %

NYSE GATO traded down $0.32 on Friday, hitting $18.23. 416,974 shares of the company traded hands, compared to its average volume of 555,097. The business’s 50 day moving average price is $15.50 and its 200-day moving average price is $12.79. Gatos Silver has a 52-week low of $4.39 and a 52-week high of $20.31. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 46.38 and a beta of 2.10.

Gatos Silver (NYSE:GATO) last released its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02).

Hedge Funds Weigh In On Gatos Silver

Several institutional investors have recently bought and sold shares of GATO. Cubist Systematic Strategies LLC bought a new position in shares of Gatos Silver during the 2nd quarter valued at about $702,000. Mackenzie Financial Corp raised its position in Gatos Silver by 5.1% during the 2nd quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock valued at $13,836,000 after purchasing an additional 64,758 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new position in Gatos Silver during the 2nd quarter valued at about $404,000. Squarepoint Ops LLC purchased a new stake in Gatos Silver during the second quarter worth $185,000. Finally, XTX Topco Ltd purchased a new position in shares of Gatos Silver in the 2nd quarter valued at $112,000. 44.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Gatos Silver Company Profile

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.