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

Shares of Gatos Silver, Inc. (NYSE:GATO) gapped down prior to trading on Monday . The stock had previously closed at $15.83, but opened at $15.05. Gatos Silver shares last traded at $15.34, with a volume of 8,735 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GATO shares. Canaccord Genuity Group reiterated a “hold” rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. Canaccord Genuity Group cut shares of Gatos Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. CIBC boosted their target price on shares of Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada lifted their price objective on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.90.

Gatos Silver Stock Performance

The firm has a market capitalization of $1.07 billion, a PE ratio of 31.57 and a beta of 2.05. The stock’s 50 day simple moving average is $16.75 and its two-hundred day simple moving average is $13.64.

Institutional Trading of Gatos Silver

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Gatos Silver by 23,313.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock valued at $73,000 after acquiring an additional 6,994 shares during the last quarter. XTX Topco Ltd purchased a new position in Gatos Silver during the second quarter worth about $112,000. Arizona State Retirement System acquired a new position in Gatos Silver in the 2nd quarter valued at about $121,000. Barclays PLC increased its holdings in shares of Gatos Silver by 1,332.9% during the 3rd quarter. Barclays PLC now owns 10,116 shares of the company’s stock worth $152,000 after buying an additional 9,410 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Gatos Silver by 53.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,807 shares of the company’s stock valued at $163,000 after buying an additional 3,783 shares during the period. 44.81% of the stock is owned by institutional investors and hedge funds.

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.