Alpine Associates Management Inc. Acquires New Stake in Gatos Silver, Inc. (NYSE:GATO)

Alpine Associates Management Inc. acquired a new stake in Gatos Silver, Inc. (NYSE:GATO) in the third quarter, Holdings Channel reports. The firm acquired 1,327,472 shares of the company’s stock, valued at approximately $20,018,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lingotto Investment Management LLP increased its holdings in Gatos Silver by 1.6% in the second quarter. Lingotto Investment Management LLP now owns 3,503,669 shares of the company’s stock valued at $36,578,000 after purchasing an additional 54,222 shares during the period. Tidal Investments LLC acquired a new stake in Gatos Silver in the first quarter valued at $17,397,000. Mackenzie Financial Corp increased its holdings in 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 purchasing an additional 64,758 shares during the period. Dimensional Fund Advisors LP boosted its position in Gatos Silver by 18.4% during the second quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock valued at $9,853,000 after acquiring an additional 146,462 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its position in Gatos Silver by 23.0% during the second quarter. ClariVest Asset Management LLC now owns 248,312 shares of the company’s stock valued at $2,592,000 after acquiring an additional 46,407 shares during the last quarter. 44.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on GATO. CIBC upped their price target on shares of Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research report on Thursday, September 26th. Royal Bank of Canada upped their price target on shares of Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 10th. Canaccord Genuity Group cut shares of Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of Gatos Silver in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, Gatos Silver currently has a consensus rating of “Hold” and an average target price of $12.90.

Gatos Silver Price Performance

GATO stock opened at $16.79 on Wednesday. The stock has a market capitalization of $1.16 billion, a PE ratio of 34.27 and a beta of 2.05. The company’s 50-day moving average is $16.64 and its 200-day moving average is $13.45. Gatos Silver, Inc. has a 1 year low of $5.42 and a 1 year high of $20.31.

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.