Short Interest in Gatos Silver, Inc. (NYSE:GATO) Drops By 13.0%

Gatos Silver, Inc. (NYSE:GATO - Get Free Report) saw a large drop in short interest in 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 volume of 310,800 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.3% of the company's stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GATO. Tower Research Capital LLC TRC increased its holdings in shares of Gatos Silver by 11,226.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,854 shares of the company's stock worth $51,000 after purchasing an additional 9,767 shares in the last quarter. Ethic Inc. bought a new stake in shares of Gatos Silver in the 1st quarter worth $55,000. Barclays PLC bought a new stake in shares of Gatos Silver in the 3rd quarter worth $60,000. International Assets Investment Management LLC bought a new stake in shares of Gatos Silver in the 4th quarter worth $64,000. Finally, Walleye Capital LLC bought a new stake in shares of Gatos Silver in the 2nd quarter worth $67,000. Hedge funds and other institutional investors own 44.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GATO. BMO Capital Markets raised their target price on Gatos Silver from $8.00 to $9.00 and gave the company a "market perform" rating in a research note on Thursday. Royal Bank of Canada raised their target price on Gatos Silver from $6.50 to $7.00 and gave the company a "sector perform" rating in a research note on Thursday, March 28th.

Gatos Silver Trading Up 0.8 %

NYSE:GATO traded up $0.08 during trading hours on Friday, reaching $9.80. 1,221,151 shares of the company traded hands, compared to its average volume of 383,541. The business's 50-day moving average price is $7.42 and its two-hundred day moving average price is $6.33. The stock has a market capitalization of $677.96 million, a P/E ratio of 51.58 and a beta of 2.21. Gatos Silver has a 1 year low of $3.51 and a 1 year high of $10.96.

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

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.

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