Gatos Silver (NYSE:GATO) Shares Down 3.6%

Gatos Silver, Inc. (NYSE:GATO)’s stock price dropped 3.6% on Monday . The company traded as low as $15.31 and last traded at $15.32. Approximately 99,280 shares traded hands during trading, a decline of 81% from the average daily volume of 509,237 shares. The stock had previously closed at $15.90.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GATO. Royal Bank of Canada boosted their price target on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 10th. Cibc World Mkts upgraded Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, CIBC boosted their price target on Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a report on Thursday, September 26th. Two 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 company. Based on data from MarketBeat.com, Gatos Silver currently has an average rating of “Moderate Buy” and an average price target of $12.90.

Gatos Silver Trading Up 1.9 %

The business has a 50-day moving average of $12.98 and a two-hundred day moving average of $11.47. The firm has a market cap of $1.06 billion, a P/E ratio of 69.82 and a beta of 2.09.

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

Hedge Funds Weigh In On Gatos Silver

Large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new position in Gatos Silver during the 2nd quarter worth about $702,000. Mackenzie Financial Corp boosted its holdings in Gatos Silver by 5.1% in the second quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock valued at $13,836,000 after acquiring an additional 64,758 shares during the last quarter. Alpha DNA Investment Management LLC bought a new stake in shares of Gatos Silver in the 2nd quarter valued at $404,000. Squarepoint Ops LLC acquired a new stake in shares of Gatos Silver during the second quarter worth $185,000. Finally, XTX Topco Ltd bought a new stake in Gatos Silver during the second quarter valued at $112,000. 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.