Gatos Silver Inc. (NYSE: GATO) stock jumped 0.17% on Friday to $5.99 against a previous-day closing price of $5.98. With 0.52 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.37 million shares. During the session, the Other Precious Metals & Mining company that operates in wider Basic Materials sector, reached to the highest price of $6.10 whereas the lowest price it dropped to was $5.91. The 52-week range on GATO shows that it touched its highest point at $7.49 and its lowest point at $2.20 during that stretch. It currently has a 1-year price target of $6.33. Beta for the stock currently stands at 2.28.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GATO was up-trending over the past week, with a rise of 18.85%, but this was up by 47.90% over a month. Three-month performance surged to 48.27% while six-month performance rose 32.82%. The stock gained 130.38% in the past year, while it has gained 46.45% so far this year. A look at the trailing 12-month EPS for GATO yields -0.04 with Next year EPS estimates of 0.16. For the next quarter, that number is 0.05. This implies an EPS growth rate of 120.40% for this year and 119.18% for next year.
Float and Shares Shorts:
At present, 69.16 million GATO shares are outstanding with a float of 68.59 million shares on hand for trading. On Aug 30, 2023, short shares totaled 0.41 million, which was 0.59% higher than short shares on Jul 30, 2023. In addition to Mr. Dale E. Andres as the firm’s CEO & Director, Mr. Anthony Scott P.Geo. serves as its Sr. VP of Corp. Devel. & Technical Services.
Through their ownership of 86.17% of GATO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 33.89% of GATO, in contrast to 26.85% held by mutual funds. Shares owned by individuals account for 21.78%. As the largest shareholder in GATO with 11.95% of the stake, Fidelity Management & Research Co holds 8,262,609 shares worth 8,262,609. A second-largest stockholder of GATO, The Municipal Employees’ Retireme, holds 6,205,259 shares, controlling over 8.97% of the firm’s shares. Lingotto Investment Management LL is the third largest shareholder in GATO, holding 3,449,447 shares or 4.99% stake. With a 9.98% stake in GATO, the Fidelity Select Port. – Gold Port is the largest stakeholder. A total of 6,900,000 shares are owned by the mutual fund manager. The ETFMG Prime Junior Silver ETF, which owns about 2.95% of GATO stock, is the second-largest Mutual Fund holder. It holds 2,041,878 shares valued at 9.33 million. Sprott Gold Equity Fund holds 2.59% of the stake in GATO, owning 1,789,548 shares worth 8.18 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, GATO reported revenue of $0.00 and operating income of -$4.30M. The EBITDA in the recently reported quarter was -$4.26M and diluted EPS was $0.08.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GATO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GATO analysts setting a high price target of $8.00 and a low target of $5.50, the average target price over the next 12 months is $6.33. Based on these targets, GATO could surge 33.56% to reach the target high and fall by -8.18% to reach the target low. Reaching the average price target will result in a growth of 5.68% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GATO stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.