Squarepoint Ops LLC Invests $185,000 in Gatos Silver, Inc. (NYSE:GATO)

Squarepoint Ops LLC bought a new position in shares of Gatos Silver, Inc. (NYSE:GATO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,710 shares of the company’s stock, valued at approximately $185,000.

A number of other large investors have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Gatos Silver by 23,313.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock valued at $73,000 after purchasing an additional 6,994 shares in the last quarter. XTX Topco Ltd purchased a new position in Gatos Silver in the 2nd quarter valued at approximately $112,000. Arizona State Retirement System purchased a new position in Gatos Silver in the 2nd quarter valued at approximately $121,000. Virtu Financial LLC purchased a new position in Gatos Silver in the 4th quarter valued at approximately $182,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Gatos Silver in the 1st quarter valued at approximately $196,000. 44.81% of the stock is owned by hedge funds and other institutional investors.

Gatos Silver Stock Performance

Shares of NYSE GATO opened at $16.43 on Monday. Gatos Silver, Inc. has a 1 year low of $4.39 and a 1 year high of $16.95. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 74.68 and a beta of 2.10. The stock’s 50-day simple moving average is $13.59 and its 200-day simple moving average is $11.91.

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

Analyst Ratings Changes

A number of brokerages have commented on GATO. Royal Bank of Canada increased their target price on Gatos Silver from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. CIBC increased their target price on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a report on Thursday, September 26th. Finally, Cibc World Mkts upgraded Gatos Silver to a “strong-buy” rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Gatos Silver presently has an average rating of “Moderate Buy” and a consensus price target of $12.90.

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.