Gatos Silver, Inc. (NYSE:GATO - Get Free Report) traded down 2.4% during trading on Wednesday . The company traded as low as $14.46 and last traded at $14.51. 130,631 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 356,365 shares. The stock had previously closed at $14.86.
Wall Street Analyst Weigh In
GATO has been the subject of several recent analyst reports. Canaccord Genuity Group reaffirmed a "hold" rating on shares of Gatos Silver in a research report on Tuesday, October 22nd. CIBC upped their price target on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an "outperformer" rating in a report on Thursday, September 26th. Finally, Canaccord Genuity Group cut shares of Gatos Silver from a "buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.90.
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Gatos Silver Price Performance
The business's fifty day moving average price is $15.27 and its 200 day moving average price is $14.52. The stock has a market cap of $1.00 billion, a P/E ratio of 29.39 and a beta of 1.95.
Institutional Trading of Gatos Silver
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lingotto Investment Management LLP boosted its holdings in shares of Gatos Silver by 1.6% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company's stock valued at $36,578,000 after acquiring an additional 54,222 shares in the last quarter. Mackenzie Financial Corp raised its position in Gatos Silver by 5.1% in the second quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company's stock valued at $13,836,000 after purchasing an additional 64,758 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in shares of Gatos Silver during the third quarter valued at about $20,018,000. Dimensional Fund Advisors LP grew its holdings in shares of Gatos Silver by 18.4% during the second quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company's stock worth $9,853,000 after purchasing an additional 146,462 shares during the last quarter. Finally, Citigroup Inc. acquired a new position in shares of Gatos Silver during the third quarter worth $10,676,000. Institutional investors own 44.81% of the company's stock.
Gatos Silver Company Profile
(
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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.
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