Van ECK Associates Corp Sells 264,382 Shares of Gatos Silver, Inc. (NYSE:GATO)

Van ECK Associates Corp lessened its stake in shares of Gatos Silver, Inc. (NYSE:GATO) by 13.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,763,488 shares of the company’s stock after selling 264,382 shares during the quarter. Van ECK Associates Corp owned approximately 2.55% of Gatos Silver worth $14,796,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GATO. Sprott Inc. grew its holdings in Gatos Silver by 9.1% during the 4th quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock worth $22,848,000 after acquiring an additional 291,052 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Gatos Silver by 0.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,211,756 shares of the company’s stock valued at $7,925,000 after purchasing an additional 9,132 shares during the period. Virtu Financial LLC acquired a new stake in Gatos Silver in the fourth quarter valued at $182,000. Cornerstone Investment Partners LLC bought a new position in Gatos Silver during the 1st quarter worth $172,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Gatos Silver during the 4th quarter worth about $130,000. Institutional investors and hedge funds own 44.81% of the company’s stock.

Gatos Silver Price Performance

Shares of GATO stock traded up $0.18 on Friday, reaching $10.93. 324,887 shares of the company were exchanged, compared to its average volume of 410,197. The company has a 50-day moving average of $11.00 and a 200-day moving average of $8.55. The company has a market cap of $756.14 million, a price-to-earnings ratio of 48.86 and a beta of 2.10. Gatos Silver, Inc. has a one year low of $3.90 and a one year high of $13.30.

Gatos Silver (NYSE:GATO) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. CIBC raised Gatos Silver from a “neutral” rating to a “sector outperform” rating and increased their price target for the company from $11.25 to $16.00 in a research note on Wednesday, May 22nd. BMO Capital Markets boosted their price target on shares of Gatos Silver from $8.00 to $9.00 and gave the stock a “market perform” rating in a research report on Thursday, April 11th. Canaccord Genuity Group raised shares of Gatos Silver from a “hold” rating to a “buy” rating and lifted their target price for the stock from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Cibc World Mkts raised shares of Gatos Silver to a “strong-buy” rating in a research report on Wednesday, May 22nd. Finally, Royal Bank of Canada increased their price target on Gatos Silver from $6.50 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, March 28th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

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.