Gatos Silver, Inc. (NYSE:GATO) Sees Large Increase in Short Interest

Gatos Silver, Inc. (NYSE:GATO) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 405,600 shares, a growth of 16.6% from the August 15th total of 347,800 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 368,200 shares, the short-interest ratio is presently 1.1 days.

Insider Activity

In other Gatos Silver news, VP James Woeller acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was bought at an average price of $5.44 per share, with a total value of $54,400.00. Following the purchase, the vice president now owns 55,109 shares in the company, valued at $299,792.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP James Woeller purchased 10,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were purchased at an average price of $5.44 per share, with a total value of $54,400.00. Following the transaction, the vice president now owns 55,109 shares in the company, valued at approximately $299,792.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Dale Andres acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average cost of $5.40 per share, with a total value of $270,000.00. Following the acquisition, the president now directly owns 350,729 shares of the company’s stock, valued at approximately $1,893,936.60. The disclosure for this purchase can be found here. Insiders acquired 73,801 shares of company stock worth $395,475 over the last three months. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ethic Inc. acquired a new position in shares of Gatos Silver during the first quarter worth about $55,000. Walleye Capital LLC purchased a new stake in shares of Gatos Silver during the 2nd quarter worth $67,000. BNP Paribas Arbitrage SNC acquired a new position in shares of Gatos Silver during the third quarter worth $75,000. Y Intercept Hong Kong Ltd purchased a new position in Gatos Silver in the first quarter valued at $81,000. Finally, PDT Partners LLC acquired a new stake in Gatos Silver in the fourth quarter valued at $90,000. 47.72% of the stock is owned by institutional investors and hedge funds.

Gatos Silver Trading Down 2.7 %

Shares of NYSE:GATO opened at $5.83 on Tuesday. Gatos Silver has a 1 year low of $2.20 and a 1 year high of $7.49. The firm’s 50-day moving average is $4.75 and its two-hundred day moving average is $5.03.

Gatos Silver (NYSE:GATO) last announced its earnings results on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter.

Analyst Upgrades and Downgrades

GATO has been the topic of a number of recent analyst reports. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and upped their price objective for the company from $5.00 to $5.50 in a report on Thursday, September 7th. Canaccord Genuity Group upgraded shares of Gatos Silver from a “hold” rating to a “buy” rating and upped their price objective for the stock from $5.00 to $5.50 in a report on Friday, September 8th.

Gatos Silver Company Profile

Gatos Silver, Inc engages in the exploration, development, and production of precious metals. It explores for silver deposits. The company 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. The company was formerly known as Sunshine Silver Mining & Refining Corporation and changed its name to Gatos Silver, Inc in October 2020.