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

Gatos Silver, Inc. (NYSE:GATO) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 1,120,000 shares, a decrease of 58.5% from the November 15th total of 2,700,000 shares. Based on an average trading volume of 968,100 shares, the days-to-cover ratio is presently 1.2 days. Approximately 2.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GATO shares. CIBC lifted their target price on shares of Gatos Silver from $15.00 to $17.50 and gave the stock 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 report on Tuesday, October 22nd. Royal Bank of Canada upped their price objective 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. Finally, Canaccord Genuity Group cut Gatos Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.90.

Gatos Silver Stock Performance

NYSE GATO traded down $0.41 on Friday, hitting $15.27. 390,455 shares of the stock traded hands, compared to its average volume of 587,801. The business’s fifty day moving average is $16.78 and its two-hundred day moving average is $13.96. Gatos Silver has a 12 month low of $5.42 and a 12 month high of $20.31. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 31.16 and a beta of 1.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GATO. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Gatos Silver by 23,313.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock valued at $73,000 after buying an additional 6,994 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Gatos Silver in the second quarter valued at $112,000. Arizona State Retirement System bought a new stake in shares of Gatos Silver during the 2nd quarter valued at $121,000. Barclays PLC lifted its holdings in Gatos Silver by 1,332.9% during the 3rd quarter. Barclays PLC now owns 10,116 shares of the company’s stock worth $152,000 after purchasing an additional 9,410 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Gatos Silver during the 2nd quarter worth about $185,000. Institutional investors own 44.81% of the company’s stock.

About Gatos Silver

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.