Alpine Associates Management Inc. Purchases New Holdings in Gatos Silver, Inc. (NYSE:GATO)

Alpine Associates Management Inc. purchased a new stake in Gatos Silver, Inc. (NYSE:GATO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,327,472 shares of the company’s stock, valued at approximately $20,018,000. Alpine Associates Management Inc. owned 1.91% of Gatos Silver at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 purchasing an additional 6,994 shares during the last quarter. XTX Topco Ltd bought a new stake in Gatos Silver during the second quarter worth $112,000. Arizona State Retirement System bought a new stake in Gatos Silver during the second quarter worth $121,000. Squarepoint Ops LLC bought a new stake in Gatos Silver during the second quarter worth $185,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Gatos Silver during the first quarter worth $196,000. 44.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Gatos Silver from $11.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 10th. Canaccord Genuity Group restated a “hold” rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. Canaccord Genuity Group downgraded shares of Gatos Silver from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, CIBC upped their price target on shares of Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a report on Thursday, September 26th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.90.

Gatos Silver Stock Performance

Shares of NYSE:GATO opened at $16.79 on Wednesday. The company has a fifty day moving average of $16.64 and a 200-day moving average of $13.45. The company has a market capitalization of $1.16 billion, a PE ratio of 34.27 and a beta of 2.05. Gatos Silver, Inc. has a 52-week low of $5.42 and a 52-week high of $20.31.

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.