Van ECK Associates Corp Acquires 298,425 Shares of Gatos Silver, Inc. (NYSE:GATO)

Van ECK Associates Corp raised its holdings in Gatos Silver, Inc. (NYSE:GATO) by 17.3% during the fourth quarter, HoldingsChannel reports. The firm owned 2,027,870 shares of the company’s stock after acquiring an additional 298,425 shares during the quarter. Van ECK Associates Corp’s holdings in Gatos Silver were worth $13,262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Gatos Silver by 0.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,211,756 shares of the company’s stock worth $7,925,000 after buying an additional 9,132 shares during the last quarter. International Assets Investment Management LLC bought a new position in Gatos Silver in the fourth quarter valued at about $64,000. Barclays PLC acquired a new position in Gatos Silver during the third quarter worth about $60,000. Finally, Sprott Inc. lifted its holdings in shares of Gatos Silver by 2.6% in the third 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 during the last quarter. Institutional investors own 44.81% of the company’s stock.

Analyst Ratings Changes

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

Gatos Silver Stock Performance

Shares of GATO opened at $9.65 on Thursday. The firm has a market cap of $667.59 million, a PE ratio of 50.79 and a beta of 2.10. Gatos Silver, Inc. has a 52-week low of $3.51 and a 52-week high of $10.96. The business’s 50 day moving average price is $8.28 and its two-hundred day moving average price is $6.74.

Gatos Silver (NYSE:GATO) last released its earnings results on Wednesday, February 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12.

About Gatos Silver

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.