28,353 Shares in Gatos Silver, Inc. (NYSE:GATO) Bought by Victory Capital Management Inc.

Victory Capital Management Inc. purchased a new position in shares of Gatos Silver, Inc. (NYSE:GATO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 28,353 shares of the company’s stock, valued at approximately $428,000.

A number of other institutional investors have also recently added to or reduced their stakes in GATO. Versor Investments LP purchased a new stake in Gatos Silver during the 3rd quarter worth $2,953,000. Dimensional Fund Advisors LP boosted its position in Gatos Silver by 18.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,823 shares of the company’s stock worth $9,853,000 after purchasing an additional 146,462 shares during the period. U S Global Investors Inc. purchased a new stake in Gatos Silver during the 2nd quarter worth $940,000. Cubist Systematic Strategies LLC purchased a new stake in Gatos Silver during the 2nd quarter worth $702,000. Finally, Mackenzie Financial Corp boosted its position in Gatos Silver by 5.1% during the 2nd quarter. Mackenzie Financial Corp now owns 1,329,125 shares of the company’s stock worth $13,836,000 after purchasing an additional 64,758 shares during the period. 44.81% of the stock is owned by hedge funds and other institutional investors.

Gatos Silver Stock Performance

Shares of GATO stock opened at $15.46 on Friday. Gatos Silver, Inc. has a one year low of $5.42 and a one year high of $20.31. The company’s 50-day simple moving average is $16.76 and its 200-day simple moving average is $13.69. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 31.55 and a beta of 2.05.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GATO. Royal Bank of Canada raised their target price on Gatos Silver from $11.00 to $13.00 and gave the company 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. CIBC raised their target price on Gatos Silver from $15.00 to $17.50 and gave the company an “outperformer” rating in a research note on Thursday, September 26th. Finally, Canaccord Genuity Group downgraded Gatos Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.90.

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.