State Street Corp Decreases Position in Gatos Silver, Inc. (NYSE:GATO)

State Street Corp lessened its position in Gatos Silver, Inc. (NYSE:GATO) by 10.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 797,685 shares of the company’s stock after selling 89,987 shares during the period. State Street Corp’s holdings in Gatos Silver were worth $12,029,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GATO. Charles Schwab Investment Management Inc. increased its holdings in shares of Gatos Silver by 905.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 274,860 shares of the company’s stock worth $4,145,000 after purchasing an additional 247,510 shares in the last quarter. Versor Investments LP purchased a new position in Gatos Silver in the 3rd quarter worth about $2,953,000. Alpha DNA Investment Management LLC bought a new position in Gatos Silver during the 2nd quarter valued at about $404,000. Citigroup Inc. purchased a new stake in shares of Gatos Silver during the 3rd quarter valued at about $10,676,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Gatos Silver by 18.4% in the second quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock worth $9,853,000 after acquiring an additional 146,462 shares during the period. Institutional investors own 44.81% of the company’s stock.

Wall Street Analyst Weigh In

GATO has been the subject of a number of research analyst reports. Canaccord Genuity Group downgraded shares of Gatos Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. CIBC upped their price objective on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research report on Thursday, September 26th. Canaccord Genuity Group reissued a “hold” rating on shares of Gatos Silver in a report on Tuesday, October 22nd. Finally, 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. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Gatos Silver has a consensus rating of “Hold” and a consensus target price of $12.90.

Gatos Silver Stock Performance

GATO stock opened at $14.14 on Thursday. The firm has a fifty day moving average price of $16.45 and a 200 day moving average price of $14.13. Gatos Silver, Inc. has a fifty-two week low of $5.42 and a fifty-two week high of $20.31. The firm has a market cap of $982.31 million, a PE ratio of 28.86 and a beta of 1.93.

Gatos Silver 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.