Short Interest in Gatos Silver, Inc. (NYSE:GATO) Rises By 8.2%

Gatos Silver, Inc. (NYSE:GATO) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,190,000 shares, a growth of 8.2% from the August 31st total of 1,100,000 shares. Based on an average trading volume of 679,900 shares, the days-to-cover ratio is presently 1.8 days. Currently, 2.6% of the company’s shares are short sold.

Gatos Silver Trading Down 5.1 %

Shares of NYSE GATO opened at $15.09 on Tuesday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 68.59 and a beta of 2.09. The stock has a fifty day simple moving average of $12.93 and a two-hundred day simple moving average of $11.42. Gatos Silver has a 1-year low of $4.39 and a 1-year high of $16.65.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on GATO. Cibc World Mkts upgraded shares of Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. Royal Bank of Canada upped their price objective on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. Finally, CIBC raised their target price on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.90.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Lingotto Investment Management LLP lifted its position in Gatos Silver by 1.6% in the 2nd 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 during the last quarter. Sprott Inc. lifted its stake 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 valued at $22,848,000 after acquiring an additional 291,052 shares during the last quarter. Tidal Investments LLC purchased a new position in Gatos Silver in the 1st quarter worth approximately $17,397,000. Mackenzie Financial Corp boosted its stake in shares of Gatos Silver by 5.1% during the second 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 during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 purchasing an additional 80,889 shares during the period. 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.