Gatos Silver (NYSE:GATO) Shares Down 1.8%

Gatos Silver, Inc. (NYSE:GATO) fell 1.8% during trading on Wednesday . The stock traded as low as $15.01 and last traded at $15.06. 46,891 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 478,847 shares. The stock had previously closed at $15.34.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GATO. CIBC decreased their price target on shares of Gatos Silver from $18.00 to $15.00 and set an “outperformer” rating for the company in a report on Friday, September 6th. Royal Bank of Canada lifted their price target 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 World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.40.

Gatos Silver Stock Performance

The business’s 50 day simple moving average is $12.57 and its 200-day simple moving average is $10.93. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 68.59 and a beta of 2.09.

Gatos Silver (NYSE:GATO) last posted its earnings results 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).

Institutional Trading of Gatos Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new stake in shares of Gatos Silver during the 2nd quarter worth about $702,000. Mackenzie Financial Corp raised its position in shares of Gatos Silver by 5.1% during the 2nd quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock worth $13,836,000 after buying an additional 64,758 shares in the last quarter. Alpha DNA Investment Management LLC bought a new stake in shares of Gatos Silver during the 2nd quarter worth about $404,000. Squarepoint Ops LLC bought a new stake in shares of Gatos Silver during the 2nd quarter worth about $185,000. Finally, XTX Topco Ltd bought a new stake in shares of Gatos Silver during the 2nd quarter worth about $112,000. 44.81% of the stock is currently owned by institutional investors.

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.