Short Interest in Gatos Silver, Inc. (NYSE:GATO) Grows By 25.7% – MarketBeat
Gatos Silver, Inc. (NYSE:GATO) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,860,000 shares, a growth of 25.7% from the December 15th total of 1,480,000 shares. Approximately 4.0% of the company’s stock are sold short. Based on an average daily trading volume, of 680,700 shares, the short-interest ratio is presently 2.7 days.
Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. bought a new position in shares of Gatos Silver in the second quarter worth approximately $244,000. Geode Capital Management LLC boosted its position in shares of Gatos Silver by 28.7% in the second quarter. Geode Capital Management LLC now owns 459,077 shares of the company’s stock worth $8,029,000 after purchasing an additional 102,429 shares during the period. CIBC World Markets Inc. boosted its position in shares of Gatos Silver by 94.6% in the second quarter. CIBC World Markets Inc. now owns 139,150 shares of the company’s stock worth $2,434,000 after purchasing an additional 67,650 shares during the period. Virtu Financial LLC bought a new position in shares of Gatos Silver in the second quarter worth approximately $181,000. Finally, Northern Trust Corp boosted its position in shares of Gatos Silver by 32.3% in the second quarter. Northern Trust Corp now owns 319,570 shares of the company’s stock worth $5,590,000 after purchasing an additional 78,034 shares during the period. Institutional investors and hedge funds own 54.51% of the company’s stock.
Several research analysts have recently weighed in on GATO shares. CIBC decreased their price objective on shares of Gatos Silver from $24.00 to $20.50 and set an “outperformer” rating for the company in a report on Friday, October 8th. The Goldman Sachs Group started coverage on shares of Gatos Silver in a report on Tuesday, October 19th. They set a “neutral” rating and a $14.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $17.00.
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Shares of NYSE GATO opened at $10.20 on Wednesday. The firm’s 50 day simple moving average is $11.49. Gatos Silver has a 12-month low of $9.17 and a 12-month high of $24.00.
Gatos Silver (NYSE:GATO) last announced its earnings results on Monday, November 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.30).
Gatos Silver Company Profile
Gatos Silver, Inc engages in the exploration, development, and production of precious metals. It primarily explores for silver ores. The company also explores for zinc, lead, copper, and gold ores. Its flagship asset is the Cerro Los Gatos mine located at the Los Gatos District in Chihuahua state, Mexico.
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