Gatos Silver, Inc. (NYSE:GATO) Shares Acquired by Lingotto Investment Management LLP

Lingotto Investment Management LLP lifted its stake in shares of Gatos Silver, Inc. (NYSE:GATO) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,503,669 shares of the company’s stock after acquiring an additional 54,222 shares during the quarter. Gatos Silver comprises about 1.2% of Lingotto Investment Management LLP’s investment portfolio, making the stock its 15th biggest holding. Lingotto Investment Management LLP owned 0.05% of Gatos Silver worth $36,578,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Gatos Silver by 23,313.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock worth $73,000 after buying an additional 6,994 shares in the last quarter. Jump Financial LLC bought a new stake in Gatos Silver during the fourth quarter worth approximately $94,000. Arizona State Retirement System bought a new stake in Gatos Silver during the second quarter worth approximately $121,000. Cornerstone Investment Partners LLC bought a new stake in Gatos Silver during the first quarter worth approximately $172,000. Finally, Virtu Financial LLC bought a new stake in Gatos Silver during the fourth quarter worth approximately $182,000. Institutional investors and hedge funds own 44.81% of the company’s stock.

Gatos Silver Stock Performance

Gatos Silver stock opened at $15.34 on Wednesday. The company has a 50 day moving average price of $12.55 and a 200 day moving average price of $10.90. Gatos Silver, Inc. has a 52 week low of $4.39 and a 52 week high of $15.84. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 69.73 and a beta of 2.09.

Gatos Silver (NYSE:GATO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02).

Analysts Set New Price Targets

A number of analysts recently weighed in on GATO shares. Cibc World Mkts upgraded shares of Gatos Silver to a “strong-buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada raised their target price on shares of Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 10th. Finally, CIBC reduced their target price on shares of Gatos Silver from $18.00 to $15.00 and set an “outperformer” rating for the company in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.40.

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.