Citigroup Inc. Invests $10.68 Million in Gatos Silver, Inc. (NYSE:GATO)

Citigroup Inc. bought a new stake in Gatos Silver, Inc. (NYSE:GATO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 707,942 shares of the company’s stock, valued at approximately $10,676,000. Citigroup Inc. owned 1.02% of Gatos Silver at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Gatos Silver by 23,313.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock worth $73,000 after acquiring an additional 6,994 shares during the period. XTX Topco Ltd acquired a new stake in shares of Gatos Silver during the second quarter worth $112,000. Arizona State Retirement System purchased a new position in Gatos Silver in the 2nd quarter valued at $121,000. Squarepoint Ops LLC acquired a new position in Gatos Silver in the 2nd quarter valued at $185,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Gatos Silver during the 1st quarter worth $196,000. Hedge funds and other institutional investors own 44.81% of the company’s stock.

Wall Street Analyst Weigh In

GATO has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of 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 downgraded Gatos Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Canaccord Genuity Group restated a “hold” rating on shares of Gatos Silver in a research note on Tuesday, October 22nd. Finally, CIBC increased their price objective on Gatos Silver from $15.00 to $17.50 and gave the stock an “outperformer” rating in a research report on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Gatos Silver presently has an average rating of “Hold” and a consensus price target of $12.90.

Gatos Silver Price Performance

GATO opened at $15.42 on Friday. Gatos Silver, Inc. has a 1-year low of $5.42 and a 1-year high of $20.31. The stock has a market cap of $1.07 billion, a P/E ratio of 31.47 and a beta of 2.05. The stock’s 50 day simple moving average is $16.76 and its 200 day simple moving average is $13.65.

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.