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

Van ECK Associates Corp decreased its stake in shares of Gatos Silver, Inc. (NYSE:GATO) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,763,488 shares of the company’s stock after selling 264,382 shares during the period. Van ECK Associates Corp’s holdings in Gatos Silver were worth $14,796,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sprott Inc. lifted its holdings in Gatos Silver by 9.1% in the fourth quarter. Sprott Inc. now owns 3,496,292 shares of the company’s stock worth $22,848,000 after buying an additional 291,052 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Gatos Silver by 0.8% in the 4th 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 purchased a new position in shares of Gatos Silver in the 4th quarter valued at approximately $182,000. Cornerstone Investment Partners LLC bought a new stake in shares of Gatos Silver during the first quarter valued at approximately $172,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Gatos Silver in the fourth quarter worth $130,000. Hedge funds and other institutional investors own 44.81% of the company’s stock.

Gatos Silver Stock Performance

Shares of NYSE:GATO traded up $0.18 during trading on Friday, reaching $10.93. 324,887 shares of the stock traded hands, compared to its average volume of 410,197. The stock has a market cap of $756.14 million, a P/E ratio of 48.86 and a beta of 2.10. The stock has a 50-day moving average of $11.00 and a two-hundred day moving average of $8.55. Gatos Silver, Inc. has a 52-week low of $3.90 and a 52-week high of $13.30.

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

Analyst Upgrades and Downgrades

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

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.