Virtu Financial LLC Acquires New Position in Gatos Silver, Inc. (NYSE:GATO)

Virtu Financial LLC bought a new position in Gatos Silver, Inc. (NYSE:GATO) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 27,818 shares of the company’s stock, valued at approximately $182,000.

Several other institutional investors and hedge funds have also made changes to their positions in GATO. Sprott Inc. lifted its position in Gatos Silver by 9.1% during 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 in the last quarter. Van ECK Associates Corp raised its holdings in shares of Gatos Silver by 17.3% during the 4th quarter. Van ECK Associates Corp now owns 2,027,870 shares of the company’s stock worth $13,262,000 after acquiring an additional 298,425 shares during the period. Jump Financial LLC acquired a new position in shares of Gatos Silver during the 4th quarter valued at about $94,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Gatos Silver by 0.8% during 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 acquiring an additional 9,132 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Gatos Silver by 17.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,544 shares of the company’s stock valued at $75,000 after purchasing an additional 1,690 shares during the period. 44.81% of the stock is currently owned by institutional investors and hedge funds.

Gatos Silver Stock Performance

Gatos Silver stock opened at $10.59 on Monday. The company has a market capitalization of $732.62 million, a PE ratio of 48.14 and a beta of 2.16. Gatos Silver, Inc. has a fifty-two week low of $3.51 and a fifty-two week high of $13.30. The firm has a 50 day moving average price of $10.85 and a 200 day moving average price of $8.29.

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

Analysts Set New Price Targets

GATO has been the topic of a number of analyst reports. Canaccord Genuity Group raised shares of Gatos Silver from a “hold” rating to a “buy” rating and lifted their target price for the stock from $6.50 to $12.50 in a research note on Tuesday, April 23rd. Royal Bank of Canada upped their price objective on Gatos Silver from $6.50 to $7.00 and gave the company a “sector perform” rating in a report on Thursday, March 28th. BMO Capital Markets increased their price objective on Gatos Silver from $8.00 to $9.00 and gave the stock a “market perform” rating in a research report on Thursday, April 11th. CIBC upgraded Gatos Silver from a “neutral” rating to a “sector outperform” rating and lifted their target price for the company from $11.25 to $16.00 in a research report on Wednesday, May 22nd. Finally, Canaccord Genuity Group upgraded Gatos Silver from a “hold” rating to a “buy” rating and increased their price target for the stock from $6.50 to $12.50 in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.40.

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.