Gatos Silver (NYSE:GATO) Trading Down 2.4% – What’s Next?

Gatos Silver, Inc. (NYSE:GATO)’s stock price dropped 2.4% during trading on Wednesday . The stock traded as low as $14.46 and last traded at $14.51. Approximately 130,631 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 356,365 shares. The stock had previously closed at $14.86.

Analysts Set New Price Targets

GATO has been the topic of several recent analyst reports. Canaccord Genuity Group cut Gatos Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Canaccord Genuity Group reiterated a “hold” rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. Finally, CIBC upped their price objective on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research note on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gatos Silver presently has a consensus rating of “Hold” and an average price target of $12.90.

Gatos Silver Trading Down 3.1 %

The business has a 50-day moving average price of $15.18 and a 200 day moving average price of $14.52. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 29.39 and a beta of 1.95.

Institutional Trading of Gatos Silver

Several hedge funds and other institutional investors have recently modified their holdings of GATO. Arizona State Retirement System acquired a new stake in shares of Gatos Silver in the second quarter valued at about $121,000. American Century Companies Inc. lifted its stake in Gatos Silver by 17.3% during the second quarter. American Century Companies Inc. now owns 84,930 shares of the company’s stock worth $887,000 after purchasing an additional 12,522 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Gatos Silver by 18.4% in the second quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock valued at $9,853,000 after acquiring an additional 146,462 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Gatos Silver in the second quarter valued at approximately $112,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Gatos Silver in the second quarter valued at approximately $702,000. 44.81% of the stock is currently owned by hedge funds and other 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.