K2 Principal Fund L.P. purchased a new position in Gatos Silver, Inc. (NYSE:GATO - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 135,060 shares of the company's stock, valued at approximately $2,037,000. K2 Principal Fund L.P. owned about 0.19% of Gatos Silver at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Alpine Associates Management Inc. purchased a new stake in shares of Gatos Silver in the 3rd quarter worth $20,018,000. Citigroup Inc. bought a new stake in shares of Gatos Silver in the third quarter valued at about $10,676,000. Charles Schwab Investment Management Inc. lifted its stake in Gatos Silver by 905.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 274,860 shares of the company's stock worth $4,145,000 after acquiring an additional 247,510 shares during the period. Versor Investments LP purchased a new stake in Gatos Silver in the third quarter worth about $2,953,000. Finally, Dimensional Fund Advisors LP increased its position in Gatos Silver by 18.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company's stock valued at $9,853,000 after purchasing an additional 146,462 shares during the period. Hedge funds and other institutional investors own 44.81% of the company's stock.
Shares of GATO opened at $15.34 on Friday. The company has a 50 day moving average of $16.72 and a two-hundred day moving average of $13.84. Gatos Silver, Inc. has a twelve month low of $5.42 and a twelve month high of $20.31. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 31.31 and a beta of 1.93.
Several brokerages have recently weighed in on GATO. Canaccord Genuity Group reaffirmed a "hold" rating on shares of Gatos Silver in a research report on Tuesday, October 22nd. CIBC upped their target price on Gatos Silver from $15.00 to $17.50 and gave the stock an "outperformer" rating in a report on Thursday, September 26th. Royal Bank of Canada lifted their price target on Gatos Silver from $11.00 to $13.00 and gave the company a "sector perform" rating in a report on Tuesday, September 10th. Finally, Canaccord Genuity Group lowered Gatos Silver from a "buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $12.90.
View Our Latest Stock Report on 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.
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