Van ECK Associates Corp Has $21.35 Million Position in Gatos Silver, Inc. (NYSE:GATO)

Van ECK Associates Corp lessened its position in Gatos Silver, Inc. (NYSE:GATO) by 19.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,415,505 shares of the company’s stock after selling 334,576 shares during the period. Van ECK Associates Corp’s holdings in Gatos Silver were worth $21,346,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GATO. Alpha DNA Investment Management LLC acquired a new stake in shares of Gatos Silver in the second quarter valued at about $404,000. Dimensional Fund Advisors LP increased its stake in shares of Gatos Silver by 18.4% in the second quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock valued at $9,853,000 after buying an additional 146,462 shares during the period. ClariVest Asset Management LLC increased its stake in shares of Gatos Silver by 23.0% in the second quarter. ClariVest Asset Management LLC now owns 248,312 shares of the company’s stock valued at $2,592,000 after buying an additional 46,407 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Gatos Silver by 6.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,292,645 shares of the company’s stock valued at $10,845,000 after buying an additional 80,889 shares during the period. Finally, Mackenzie Financial Corp increased its stake in shares of Gatos Silver by 5.1% in the second quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock valued at $13,836,000 after buying an additional 64,758 shares during the period. Institutional investors and hedge funds own 44.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. Canaccord Genuity Group cut Gatos Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Cibc World Mkts raised Gatos Silver to a “strong-buy” rating in a research note on Wednesday, July 10th. CIBC raised their target price on Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada raised their target price on Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.90.

Gatos Silver Trading Down 2.7 %

GATO stock opened at $17.60 on Tuesday. The stock’s fifty day simple moving average is $15.70 and its two-hundred day simple moving average is $12.95. Gatos Silver, Inc. has a 1-year low of $4.39 and a 1-year high of $20.31. The stock has a market cap of $1.22 billion, a P/E ratio of 44.00 and a beta of 2.05.

Gatos Silver (NYSE:GATO) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02).

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.