Gatos Silver, Inc. (NYSE:GATO) Short Interest Up 8.2% in September

Gatos Silver, Inc. (NYSE:GATO) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,190,000 shares, a growth of 8.2% from the August 31st total of 1,100,000 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average trading volume of 679,900 shares, the short-interest ratio is currently 1.8 days.

Hedge Funds Weigh In On Gatos Silver

Several hedge funds have recently made changes to their positions in GATO. Sprott Inc. grew its stake in shares of Gatos Silver by 9.1% during the 4th quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock worth $22,848,000 after acquiring an additional 291,052 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Gatos Silver during the 4th quarter worth approximately $182,000. Cornerstone Investment Partners LLC bought a new position in shares of Gatos Silver during the 1st quarter worth approximately $172,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 worth $10,845,000 after acquiring an additional 80,889 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Gatos Silver during the 1st quarter worth approximately $196,000. 44.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on GATO shares. Cibc World Mkts upgraded shares of Gatos Silver to a “strong-buy” rating in a research report on Wednesday, July 10th. CIBC increased their price target on shares of Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada raised their target price on shares of Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.90.

Gatos Silver Stock Performance

Shares of GATO stock opened at $15.36 on Wednesday. The company has a market capitalization of $1.06 billion, a P/E ratio of 69.82 and a beta of 2.09. The company’s 50 day moving average price is $12.98 and its two-hundred day moving average price is $11.47. Gatos Silver has a 52 week low of $4.39 and a 52 week high of $16.65.

Gatos Silver (NYSE:GATO) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02).

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.