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Gatos Silver Inc (GATO) receives a Sector outperform rating from CIBC

Gatos Silver Inc’s filing revealed that its Gen. Counsel & CCO Bodley Stephen D acquired Company’s shares for reported $56500.0 on Feb 23 ’24. In the deal valued at $5.65 per share,10,000 shares were bought. As a result of this transaction, Bodley Stephen D now holds 20,000 shares worth roughly $0.23 million.

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Then, Andres Dale bought 10,000 shares, generating $55,500 in total proceeds. Upon buying the shares at $5.55, the Chief Executive Officer now owns 554,479 shares.

Before that, Scott Anthony Michael bought 2,720 shares. Gatos Silver Inc shares valued at $15,232 were divested by the SVP, Corp Dev & Tech. Services at a price of $5.60 per share. As a result of the transaction, Scott Anthony Michael now holds 183,144 shares, worth roughly $2.13 million.

CIBC upgraded its Gatos Silver Inc [GATO] rating to a Sector outperform from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Canaccord Genuity’s analysts, who increased its forecast for the stock in late April from “a Hold” to “a Buy”. Canaccord Genuity revised its rating on October 24, 2023. It rated GATO as “a Hold” which previously was an “a Buy”.

Price Performance Review of GATO

On Monday, Gatos Silver Inc [NYSE:GATO] saw its stock jump 9.51% to $11.63. Over the last five days, the stock has gained 9.41%. Gatos Silver Inc shares have risen nearly 77.83% since the year began. Nevertheless, the stocks have risen 166.74% over the past one year. While a 52-week high of $14.45 was reached on 07/16/24, a 52-week low of $4.01 was recorded on 02/22/24. SMA at 50 days reached $11.64, while 200 days put it at $8.49.

Levels Of Support And Resistance For GATO Stock

The 24-hour chart illustrates a support level at 11.09, which if violated will result in even more drops to 10.55. On the upside, there is a resistance level at 11.98. A further resistance level may holdings at 12.33. The Relative Strength Index (RSI) on the 14-day chart is 49.75, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.58, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 45.90%. Stochastics%K at 36.50% indicates the stock is a holding.

How much short interest is there in Gatos Silver Inc?

A steep rise in short interest was recorded in Gatos Silver Inc stocks on , dropping by -0.21 million shares to a total of 1.27 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 1.48 million shares. There was a decline of -16.45%, which implies that there is a negative sentiment for the stock.

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