Gatos Silver (NYSE:GATO) Stock Price Down 9.9%

Shares of Gatos Silver, Inc. (NYSE:GATO) traded down 9.9% on Monday . The stock traded as low as $9.76 and last traded at $10.34. 225,965 shares were traded during trading, a decline of 46% from the average session volume of 419,447 shares. The stock had previously closed at $11.47.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GATO shares. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and lifted their target price for the company from $6.50 to $12.50 in a research report on Tuesday, April 23rd. Canaccord Genuity Group raised shares of Gatos Silver from a “hold” rating to a “buy” rating and increased their price objective for the company from $6.50 to $12.50 in a research note on Tuesday, April 23rd. BMO Capital Markets boosted their target price on shares of Gatos Silver from $8.00 to $9.00 and gave the stock a “market perform” rating in a research note on Thursday, April 11th. Cibc World Mkts upgraded Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, CIBC raised their price objective on Gatos Silver from $16.00 to $18.00 and gave the company an “outperformer” 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.80.

Gatos Silver Stock Down 6.6 %

The stock has a market cap of $699.42 million, a P/E ratio of 45.95 and a beta of 2.10. The company’s 50 day moving average price is $11.70 and its 200-day moving average price is $9.57.

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

Hedge Funds Weigh In On Gatos Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in GATO. Sprott Inc. raised its holdings in Gatos Silver by 9.1% during the 4th quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock worth $22,848,000 after purchasing an additional 291,052 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Gatos Silver by 6.7% in 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 buying an additional 80,889 shares during the period. Van ECK Associates Corp boosted its position in Gatos Silver by 17.3% during the fourth quarter. Van ECK Associates Corp now owns 2,027,870 shares of the company’s stock valued at $13,262,000 after acquiring an additional 298,425 shares during the last quarter. Jump Financial LLC acquired a new stake in Gatos Silver during the 4th quarter worth about $94,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Gatos Silver by 17.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after acquiring an additional 1,690 shares in the last quarter. 44.81% of the stock is owned by institutional investors and hedge funds.

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.