Gatos Silver (NYSE:GATO) Shares Gap Down – Time to Sell?

Gatos Silver, Inc. (NYSE:GATO)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $15.46, but opened at $15.04. Gatos Silver shares last traded at $15.06, with a volume of 61,537 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. 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. Royal Bank of Canada upped their target price on 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 reiterated a “hold” rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. Finally, Canaccord Genuity Group cut Gatos Silver from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Gatos Silver presently has an average rating of “Hold” and a consensus price target of $12.90.

Gatos Silver Stock Performance

The firm has a market cap of $1.11 billion, a P/E ratio of 32.59 and a beta of 1.93. The company’s 50 day moving average is $16.76 and its 200 day moving average is $13.76.

Institutional Investors Weigh In On Gatos Silver

A number of hedge funds and other institutional investors have recently bought and sold shares of GATO. Alpine Associates Management Inc. bought a new position in Gatos Silver in the third quarter valued at about $20,018,000. Citigroup Inc. bought a new position in Gatos Silver in the 3rd quarter valued at approximately $10,676,000. Charles Schwab Investment Management Inc. raised its holdings in Gatos Silver by 905.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 274,860 shares of the company’s stock valued at $4,145,000 after buying an additional 247,510 shares during the last quarter. Versor Investments LP acquired a new stake in Gatos Silver during the 3rd quarter worth approximately $2,953,000. Finally, Dimensional Fund Advisors LP grew its holdings in Gatos Silver by 18.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock worth $9,853,000 after acquiring an additional 146,462 shares during the last quarter. Institutional investors own 44.81% of the company’s stock.

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.