Gatos Silver (NYSE:GATO) Shares Gap Down – Should You 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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GATO. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Gatos Silver in a report on Tuesday, October 22nd. Royal Bank of Canada raised their price objective 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. CIBC raised their price objective on 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 lowered Gatos Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Gatos Silver currently has a consensus rating of “Hold” and an average target price of $12.90.

Gatos Silver Price Performance

The firm has a 50-day simple moving average of $16.76 and a 200 day simple moving average of $13.73. The company has a market capitalization of $1.04 billion, a PE ratio of 31.55 and a beta of 2.05.

Institutional Trading of Gatos Silver

Several large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Gatos Silver by 23,313.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock worth $73,000 after buying an additional 6,994 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Gatos Silver during the second quarter worth approximately $112,000. Arizona State Retirement System acquired a new stake in shares of Gatos Silver during the second quarter worth approximately $121,000. Barclays PLC grew its position in shares of Gatos Silver by 1,332.9% during the third quarter. Barclays PLC now owns 10,116 shares of the company’s stock worth $152,000 after buying an additional 9,410 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Gatos Silver by 53.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,807 shares of the company’s stock worth $163,000 after buying an additional 3,783 shares in the last quarter. Institutional investors and hedge funds own 44.81% of the company’s stock.

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.