Gatos Silver, Inc. (NYSE:GATO) Stake Increased by Van ECK Associates Corp

Van ECK Associates Corp raised its stake in shares of Gatos Silver, Inc. (NYSE:GATO) by 17.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,027,870 shares of the company’s stock after acquiring an additional 298,425 shares during the quarter. Van ECK Associates Corp owned approximately 2.93% of Gatos Silver worth $13,262,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC bought a new position in shares of Gatos Silver during the third quarter worth about $60,000. International Assets Investment Management LLC bought a new position in Gatos Silver during the 4th quarter worth approximately $64,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Gatos Silver by 2.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,202,624 shares of the company’s stock worth $6,230,000 after acquiring an additional 23,996 shares in the last quarter. Finally, Sprott Inc. grew its position in shares of Gatos Silver by 2.6% in 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. 44.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GATO has been the topic of several research analyst reports. Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and raised their price objective for the stock from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Royal Bank of Canada upped their price objective on Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 28th. BMO Capital Markets lifted their price objective on shares of Gatos Silver from $8.00 to $9.00 and gave the company a “market perform” rating in a research report on Thursday, April 11th. Finally, Canaccord Genuity Group raised shares of Gatos Silver from a “hold” rating to a “buy” rating and upped their price objective for the stock from $6.50 to $12.50 in a report on Tuesday, April 23rd.

Gatos Silver Price Performance

Shares of GATO opened at $9.65 on Thursday. The company has a market capitalization of $667.59 million, a price-to-earnings ratio of 50.79 and a beta of 2.10. The business’s 50-day moving average is $8.28 and its 200-day moving average is $6.74. Gatos Silver, Inc. has a fifty-two week low of $3.51 and a fifty-two week high of $10.96.

Gatos Silver (NYSE:GATO) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.06 by $0.12.

Gatos Silver 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.