Gatos Silver (NYSE:GATO) Trading Down 5.2% - Should You Sell?

Gatos Silver, Inc. (NYSE:GATO - Get Free Report) was down 5.2% during mid-day trading on Wednesday . The company traded as low as $18.94 and last traded at $18.95. Approximately 108,034 shares changed hands during trading, a decline of 80% from the average daily volume of 551,494 shares. The stock had previously closed at $19.99.

Analysts Set New Price Targets

A number of analysts have recently commented on GATO shares. Royal Bank of Canada lifted their price target on shares of Gatos Silver from $11.00 to $13.00 and gave the stock a "sector perform" rating in a research note on Tuesday, September 10th. Canaccord Genuity Group lowered shares of Gatos Silver from a "buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. Cibc World Mkts raised Gatos Silver to a "strong-buy" rating in a report on Wednesday, July 10th. Canaccord Genuity Group reaffirmed a "hold" rating on shares of Gatos Silver in a report 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 report on Thursday, September 26th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $12.90.

Gatos Silver Trading Down 2.9 %

The company's 50 day moving average price is $15.38 and its two-hundred day moving average price is $12.75. The firm has a market cap of $1.35 billion, a PE ratio of 48.54 and a beta of 2.10.

Gatos Silver (NYSE:GATO - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02).

Hedge Funds Weigh In On Gatos Silver

Hedge funds have recently modified their holdings of the company. Lingotto Investment Management LLP boosted its stake in shares of Gatos Silver by 1.6% in the second quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company's stock worth $36,578,000 after acquiring an additional 54,222 shares during the period. Tidal Investments LLC purchased a new position in Gatos Silver in the 1st quarter worth approximately $17,397,000. Mackenzie Financial Corp boosted its stake in Gatos Silver by 5.1% in the 2nd quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company's stock worth $13,836,000 after purchasing an additional 64,758 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Gatos Silver by 6.7% during the 1st 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its position 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 valued at $9,853,000 after buying an additional 146,462 shares during the last quarter. 44.81% of the stock is currently owned by institutional investors.

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.