Gatos Silver, Inc. (NYSE:GATO) Short Interest Down 13.0% in March

Gatos Silver, Inc. (NYSE:GATO) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 612,600 shares, a drop of 13.0% from the March 15th total of 703,900 shares. Based on an average daily trading volume, of 310,800 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.3% of the shares of the company are short sold.

Institutional Investors Weigh In On Gatos Silver

A number of institutional investors have recently added to or reduced their stakes in GATO. Van ECK Associates Corp boosted its stake in shares of Gatos Silver by 0.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,729,445 shares of the company’s stock worth $8,959,000 after acquiring an additional 11,884 shares in the last quarter. Sprott Inc. boosted its stake in shares of Gatos Silver by 2.6% during the 3rd quarter. Sprott Inc. now owns 3,205,240 shares of the company’s stock worth $16,603,000 after acquiring an additional 81,076 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Gatos Silver by 0.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,211,756 shares of the company’s stock worth $7,925,000 after acquiring an additional 9,132 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Gatos Silver by 17.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock worth $75,000 after acquiring an additional 1,690 shares in the last quarter. Finally, Barclays PLC purchased a new stake in shares of Gatos Silver during the 3rd quarter worth approximately $60,000. Hedge funds and other institutional investors own 44.81% of the company’s stock.

Gatos Silver Stock Performance

GATO traded up $0.03 during trading on Tuesday, reaching $9.65. The company’s stock had a trading volume of 390,032 shares, compared to its average volume of 330,289. Gatos Silver has a 52-week low of $3.51 and a 52-week high of $10.96. The company’s fifty day moving average price is $7.55 and its 200-day moving average price is $6.39. The company has a market capitalization of $667.59 million, a price-to-earnings ratio of 50.79 and a beta of 2.21.

Gatos Silver (NYSE:GATO) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GATO. BMO Capital Markets raised their price target on Gatos Silver from $8.00 to $9.00 and gave the stock a “market perform” rating in a report on Thursday, April 11th. Royal Bank of Canada raised their price target on Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, March 28th.

Gatos Silver Company Profile

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.