Gatos Silver, Inc. (NYSE:GATO) Short Interest Down 58.5% in November

Gatos Silver, Inc. (NYSE:GATO) was the recipient of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 1,120,000 shares, a decrease of 58.5% from the November 15th total of 2,700,000 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average trading volume of 968,100 shares, the short-interest ratio is currently 1.2 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Gatos Silver by 23,313.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock worth $73,000 after acquiring an additional 6,994 shares in the last quarter. XTX Topco Ltd bought a new stake in Gatos Silver during the second quarter worth about $112,000. Arizona State Retirement System bought a new stake in Gatos Silver during the second quarter worth about $121,000. Barclays PLC increased its position 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 valued at $152,000 after purchasing an additional 9,410 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Gatos Silver during the 2nd quarter valued at about $185,000. Hedge funds and other institutional investors own 44.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Canaccord Genuity Group lowered Gatos Silver from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Royal Bank of Canada raised their target price on Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 10th. Canaccord Genuity Group reiterated a “hold” rating on shares of Gatos Silver in a research report on Tuesday, October 22nd. Finally, CIBC raised their price objective 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. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Gatos Silver presently has an average rating of “Hold” and a consensus price target of $12.90.

Gatos Silver Stock Performance

Gatos Silver stock traded down $0.41 during midday trading on Friday, hitting $15.27. 390,455 shares of the company’s stock were exchanged, compared to its average volume of 587,801. The company has a market cap of $1.06 billion, a P/E ratio of 31.16 and a beta of 1.93. The stock has a 50-day moving average price of $16.77 and a two-hundred day moving average price of $13.98. Gatos Silver has a 52-week low of $5.42 and a 52-week high of $20.31.

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.