Gatos Silver (NYSE:GATO) Shares Down 1.8%

Gatos Silver, Inc. (NYSE:GATO) shares fell 1.8% on Wednesday . The company traded as low as $15.01 and last traded at $15.06. 46,891 shares were traded during mid-day trading, a decline of 90% from the average session volume of 478,847 shares. The stock had previously closed at $15.34.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GATO. Cibc World Mkts raised Gatos Silver to a “strong-buy” rating in a research report on Wednesday, July 10th. CIBC dropped their target price on Gatos Silver from $18.00 to $15.00 and set an “outperformer” rating on the stock in a report on Friday, September 6th. Finally, Royal Bank of Canada raised their price target on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.40.

Gatos Silver Price Performance

The stock has a market cap of $1.04 billion, a PE ratio of 69.73 and a beta of 2.09. The company has a 50 day moving average price of $12.55 and a two-hundred day moving average price of $10.90.

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

Institutional Trading of Gatos Silver

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sprott Inc. lifted its holdings in shares of Gatos Silver by 9.1% in the 4th quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock worth $22,848,000 after buying an additional 291,052 shares during the period. ClariVest Asset Management LLC boosted its stake in shares of Gatos Silver by 23.0% during the second quarter. ClariVest Asset Management LLC now owns 248,312 shares of the company’s stock valued at $2,592,000 after purchasing an additional 46,407 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Gatos Silver by 6.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock valued at $10,845,000 after buying an additional 80,889 shares during the period. Lingotto Investment Management LLP raised its stake in Gatos Silver by 1.6% in the second quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock worth $36,578,000 after buying an additional 54,222 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in Gatos Silver during the 4th quarter valued at $94,000. Institutional investors own 44.81% of the company’s stock.

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.