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

Gatos Silver, Inc. (NYSE:GATO)’s share price gapped down before the market opened 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.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GATO. Royal Bank of Canada boosted their target price on Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 10th. Canaccord Genuity Group cut Gatos Silver from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Canaccord Genuity Group reiterated a “hold” rating on shares of Gatos Silver in a report on Tuesday, October 22nd. Finally, CIBC upped their price objective on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a report on Thursday, September 26th. Four investment 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 currently has a consensus rating of “Hold” and a consensus target price of $12.90.

Gatos Silver Stock Down 3.3 %

The stock has a market cap of $1.04 billion, a PE ratio of 31.55 and a beta of 2.05. The firm has a fifty day moving average of $16.76 and a 200 day moving average of $13.73.

Hedge Funds Weigh In On Gatos Silver

Several large investors have recently bought and sold shares of the business. Lingotto Investment Management LLP increased its holdings in Gatos Silver by 1.6% in the second quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock valued at $36,578,000 after buying an additional 54,222 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Gatos Silver by 5.1% in the second quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock valued at $13,836,000 after acquiring an additional 64,758 shares in the last quarter. Alpine Associates Management Inc. acquired a new position in Gatos Silver in the third quarter valued at $20,018,000. Dimensional Fund Advisors LP boosted its stake in Gatos Silver by 18.4% in the second quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock valued at $9,853,000 after acquiring an additional 146,462 shares in the last quarter. Finally, Citigroup Inc. acquired a new position in Gatos Silver in the third quarter valued at $10,676,000. Hedge funds and other institutional investors 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.