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

Gatos Silver, Inc. (NYSE:GATO) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 2,700,000 shares, an increase of 78.8% from the October 31st total of 1,510,000 shares. Based on an average daily trading volume, of 1,060,000 shares, the days-to-cover ratio is currently 2.5 days. Currently, 5.8% of the company’s shares are short sold.

Analyst Ratings Changes

GATO has been the topic of several recent analyst reports. CIBC boosted their price objective on shares of Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research report on Thursday, September 26th. Canaccord Genuity Group reiterated a “hold” rating on shares of Gatos Silver in a research report on Tuesday, October 22nd. Royal Bank of Canada increased 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. 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 an average target price of $12.90.

Institutional Investors Weigh In On Gatos Silver

A number of hedge funds and other institutional investors have recently bought and sold shares of GATO. Wilmington Savings Fund Society FSB purchased a new position in Gatos Silver during the third quarter valued at $271,000. Barclays PLC increased its holdings in shares of Gatos Silver by 1,332.9% during the third quarter. Barclays PLC now owns 10,116 shares of the company’s stock valued at $152,000 after acquiring an additional 9,410 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Gatos Silver by 1.2% in 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 during the last quarter. Vestcor Inc bought a new position in Gatos Silver in the 3rd quarter worth about $398,000. Finally, K2 Principal Fund L.P. bought a new position in Gatos Silver in the 3rd quarter worth about $2,037,000. Hedge funds and other institutional investors own 44.81% of the company’s stock.

Gatos Silver Stock Down 0.4 %

Shares of NYSE:GATO traded down $0.06 during midday trading on Thursday, reaching $15.42. The company’s stock had a trading volume of 436,301 shares, compared to its average volume of 598,815. The firm has a 50 day moving average of $16.76 and a 200-day moving average of $13.65. The firm has a market capitalization of $1.07 billion, a P/E ratio of 31.47 and a beta of 2.05. Gatos Silver has a 12-month low of $5.42 and a 12-month high of $20.31.

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.